ETH Price to Fall to $922 by December 10, Coincodex Predicts

The U.S. dollar terms of ether, which presently hovers astir $1,200, is expected to autumn to $922.66 by Dec. 10, a Coincodex prediction illustration has shown. Ethereum is nevertheless projected to adjacent the pursuing time trading supra $1,000. According to the Coincodex analysis, determination are presently 15 method indicators retired of a full of 28 that task a bearish outlook for the asset.

ETH’s Negative Trend

According to an analysis by the integer plus speech level Coincodex, the U.S. dollar worth of ETH is expected to driblet to $922.66 by Dec. 10. The investigation suggests ether price, which stood astatine $1,230 connected Dec. 7 (1:00 p.m. EST), indispensable diminution by astir 25% for this prediction to go a reality.

In a study which shares immoderate factors that led to the antagonistic terms prediction, the Coincodex squad besides points to ETH’s antagonistic inclination which tin beryllium evidenced by its 21.5% diminution betwixt Nov. 5 and Dec. 5. Similarly, successful a play of 90 days that ended connected Dec. 5, the crypto asset’s terms fell by astir 23%.

Bearish Conditions successful Ethereum Markets

Explaining the antagonistic outlook for ETH, Coincodex said:

The medium-term inclination for Ethereum has been bearish, with ETH dropping by -22.81% successful the past 3 months [to Dec. 5]. The semipermanent representation for Ethereum has been negative, arsenic ETH is presently displaying a -69.28% 1-year terms change. On this time past year, ETH was trading astatine $ 4,220.95.

After reaching an all-time precocious of $4,862.24 connected Nov. 9, 2021, ETH has declined by astir 75% since then. The prevailing sentiment successful ethereum markets remains mostly bearish with 54%, oregon 15 method indicators retired of a full of 28, supporting this characterization — hence the terms driblet prediction.

Source: coincodex.com

However, contempt the antagonistic prediction, the Coincodex ETH prediction illustration seems to suggest that ETH’s driblet to beneath $1,000 volition lone past for 24 hours. Just a time aft tapping the caller 30-day low, the terms of ETH is expected to rally to $1,019.56 by Dec. 11.

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