RATE Group | Analysts Anticipate Ethereum to Drop Towards $170 as Crypto Markets Falter
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Analysts Anticipate Ethereum to Drop Towards $170 as Crypto Markets Falter

11 Oct Analysts Anticipate Ethereum to Drop Towards $170 as Crypto Markets Falter

Posted at 23:41h in Ethereum News by

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Ethereum’s recently incurred upwards momentum has faltered after Bitcoin and the aggregated crypto markets hit a massive level of resistance overnight that shifted the tides and sparked a short-term downtrend.

Multiple analysts are now noting that Ethereum may soon target significantly lower lows, which could mean that the recent uptrend was simply a flash in the pan that precedes the next major leg down for ETH and other major altcoins.

Ethereum Drops 2% as Crypto Markets Increase Bearishness

At the time of writing, Ethereum is trading down roughly 2% at its current price of $186, which marks a notable drop from its recent highs of nearly $195 that were set during a sharp upwards movement that occurred overnight.

It does appear that the mid-to-upper $190 region is a level of resistance for ETH, and its overnight drop occurred concurrently with Bitcoin’s surge to highs of nearly $9,000 before it also incurred a massive influx of selling pressure that sent it plummeting lower.

In…

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