Ethereum price as cryptocurrency falls below $1,200

2022-12-29 18:44

Ethereum fell by 1.87% on Wednesday to relinquish $1,200 price level

Ethereum price is ailing from the weak sentiment in the crypto sector

The price faces further slump although it has some stability

Looking to buy Ethereum (ETH/USD) in the new year? Probably waiting a little longer would help. Ethereum is yet to find a bullish footing, and further downsides are possible. The recent price action shows it, but it is not outright.

Trading down 1.87% on Wednesday, Ethereum had slipped below the $1,200 price level. The loss is not unique to the second-largest cryptocurrency. All the cryptocurrencies in the top 10 by market cap were in the red. That probably tells that although crypto fans may wait for 2023 with enthusiasm, it may still be too early to jump into the ship. 

Ethereum is a cryptocurrency with huge potential, considering that it trades at just four times lesser value than its 2021 highs. Then, the merge happened this year, and the blockchain transited to the proof of stake protocol. Yet again, the price has failed to take off. Perhaps, we should take the words of the co-founder Vitalik Buterin that we should focus on the technology rather than price. But to crypto speculators, price matters most. What crypto enthusiasts want is when is the next bull run. The answer is plain, not yet! The price action below shows.

ETH sliding below the support-turned resistance

ETH/USD Chart by TradingView

On the technical outlook, Ethereum is sliding into a consolidating market. However, the cryptocurrency is in a bear market with weak momentum. ETH also trades below the $1,250 support zone. The $1,100 continues to support the price and prevent bears from crashing below $1,000.

What next for ETH?

The price outlook for ETH is slightly bearish. However, $1,100 is the level to watch should bear pressure mount. A break below the support would see ETH fall further lower. 

On the flip side, bulls must recover above $1,250 to consider the further upside for Ethereum price. For buyers, it could be crucial to wait for a bullish momentum.

Where to buy ETH

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy ETH with eToro today Disclaimer

Coinbase

Coinbase is a global cryptocurrency exchange. Its platform is well designed for beginner investors and it offers a wide range of coins, as it has over 100 to choose from. Coinbase has high level security built into the platform, a range of diverse features to use and it offers its users options for storing their crypto, such as being able to store coins on the Coinbase exchange.

Buy ETH with Coinbase today Disclaimer

The post Ethereum price as cryptocurrency falls below $1,200 appeared first on CoinJournal.

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

ethereum price 200 longer stability although help

ethereum price → Результатов: 126


Фото:

Ethereum’s Price Recovery Of The $4,000 Mark Hinges On This Crucial Support Level

Ethereum‘s bullish expectations in the ongoing cycle continue to be delayed due to heightened volatility across the general crypto market. Despite its struggles to initiate a major price rally, many crypto experts remain optimistic about an upsurge, pointing to key support levels that could spark a rebound for ETH. A Push Back For Ethereum To […]

2025-2-11 14:30


Фото:

Ethereum Whales Keep Buying As Price Struggles – Expert Discloses Massive Accumulation

Ethereum has faced lackluster price action over the past year, significantly underperforming compared to Bitcoin and many altcoins that have surged during the ongoing market cycle. Once seen as the leader of innovation and growth in the crypto space, Ethereum’s slow movement has left many investors frustrated and questioning its short-term potential.

2025-1-26 19:00


Фото:

Ethereum Price Prediction: Inverse Head And Shoulders Pattern Says ETH Will Touch $12,000

The Ethereum price is showing signs of a breakout, as an analyst has identified the formation of an inverse head and shoulder pattern on its 6-month long-term price chart. This bullish formation has fueled predictions that Ethereum could rally to $12,000 soon, marking a new all-time high for the second-largest cryptocurrency by market capitalization.

2024-12-26 14:30


Ethereum Price To Smash Through $5,000, Triggering 400x Bull Run For Shiba Inu And ETFSwap

Investors are optimistic once again as the hope of the Ethereum price rallying to $5,000 hit the crypto market. In a recent report, Ethereum co-creator Vitalik Buterin spoke at length about upcoming solutions to Ethereum’s (ETH) staking, block production issues, and prevent centralization of proof-of-stake to Ethereum L1.

2024-10-30 20:00


BlockDAG Presale Hits $76.2M Mark—While Ethereum Prices Plummet & Litecoin Defies Odds

The drop in Ethereum’s price points to a market walking on eggshells, with sellers taking the upper hand, challenging critical support levels and raising investor concerns. In contrast, Litecoin shows signs of bouncing back, with its price actions hinting at potential yet with a reserved optimism in the volatile crypto market.

2024-9-27 03:00