Ethereum has a downtrend and has dropped 62% from its ATH. How far can this price reduction occur? In the previous cycle, Ethereum experienced a 96% price drop from ATH.
The 200-week moving average for Bitcoin is considered to be the most popular bitcoin support and determines the bitcoin price bottom. But examining this index in the case of bitcoin does not have the same result for Ethereum . The above moving average channel is designed according to the price action of ETH to determine its top and bottom based on the 200w moving average. This channel has a good performance on the historical chart.
If the channel’s predictability is correct, Ethereum could fall as low as $ 650. The rate of reduction of the previous cycle confirms this.
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