Ethereum Builds A Strong Bearish Pressure!

[Heena Kousar]

One of the largest exchange FTX's collapse is crushing and brutally killing the crypto market as the industry continues to flash red. Furthermore, FTX's recent chapter 11 bankruptcy filing may bring more downside spirals and hit the market harder than ever.

As we all know many crypto assets have lost more than 40% of their value because of the impact that plummeted the global market cap to $780B. According to Coinpedia, the present bearish trend made selling pressure among Ethereum investors, forcing them to liquidate all positions to get a smooth road for the downtrend of ETH.

Ethereum trades at risky resistance level!

As mentioned by Coinpedia, in the present situation, some crypto experts are predicting more price drops for Ethereum including a prominent crypto analyst firm, Bitcoinsensus, forecasted that Ethereum may soon get a bold rejection because it is displaying a continuous price fluctuation in a massive resistance zone of $1,200 to $1,300.

 

[Suba]

Imo, the crash of the FTX exchange has not only hit Ethereum, but all cryptocurrencies, Especially after the fake news spread, that the two big crypto exchanges Gate.io and Crypto.com will be like FTX, I think there is a game between the whales spreading FUD so investors will stay away from the market, it's better to wait and see. Currently the price of Ethereum on Coinmarketcap is $ 1,214.60, according to my prediction using the trendline method the price of Ether will decrease and I estimate the price of Ether will be below $ 1000 on Dec 07, 2022.

If there is a breakdown in the Bitcoin price, it is estimated that the Btc price will fall to around $ 13.6k. Until now there has been no strong positive sentiment that can move the market, and also investors are not enthusiastic about going to the market and are still waiting.

 

[ImamShaheb]

One of the largest exchange FTX's collapse is crushing and brutally killing the crypto market as the industry continues to flash red. Furthermore, FTX's recent chapter 11 bankruptcy filing may bring more downside spirals and hit the market harder than ever.

As we all know many crypto assets have lost more than 40% of their value because of the impact that plummeted the global market cap to $780B. According to Coinpedia, the present bearish trend made selling pressure among Ethereum investors, forcing them to liquidate all positions to get a smooth road for the downtrend of ETH.

Ethereum trades at risky resistance level!

As mentioned by Coinpedia, in the present situation, some crypto experts are predicting more price drops for Ethereum including a prominent crypto analyst firm, Bitcoinsensus, forecasted that Ethereum may soon get a bold rejection because it is displaying a continuous price fluctuation in a massive resistance zone of $1,200 to $1,300.

FTX & Luna 🙃. Both of those incidents were core shattering. But .....

 

[Bash4j]

FTX & Luna 🙃. View attachment 59571 Both of those incidents were core shattering. But .....

While the crypto volatility continues to impact negatively the price of some coins, a few promising tokens like the Bitget BGB have maintained a steady increase by almost 20%, reaching a new ATH at $0.58373. The future of this token in the next bull run is something that we all can look forward to!

 

[ImamShaheb]

While the crypto volatility continues to impact negatively the price of some coins, a few promising tokens like the Bitget BGB have maintained a steady increase by almost 20%, reaching a new ATH at $0.58373. The future of this token in the next bull run is something that we all can look forward to!

Imagine what will happen during bull run...! If Bitget launches their own chain, during that time.... The pace it'll get!!! The perfect competitor of BNB!