ETH Analysis: Ethereum Drops to Lowest Price in 15 Months, Now What?

In the premium environment of Crypto Insiders, current technical analyzes are shared daily by experienced analysts. Over the past period, ethereum (ETH) has been discussed here regularly due to the striking price action.

In this section, we look back at this technical analysis and map out recent developments and expectations for the coming period. If you still have questions after reading this article, you can easily ask them in our Discord Communityhere our technical analysis is usually shared with our members 48 hours before.

ETH is down about 10% over the past 24 hours. Over the past seven days, we saw a deeper decline. During this period, the share price fell by about 11%. Despite the declining price, the volume has increased by 38%. This volume also includes selling transactions.

Latest Ethereum news

Recently, a number of new interesting steps have been taken towards the Ethereum 2.0 update. For example, we recently saw that the Ropsten testnet, the longest-lived proof-of-work (PoW) testnet on Ethereum, made the switch to a proof-of-stake (PoS) network on June 8th.

Now there is also announced that another testnet, called Sepolia, will launch its version of the beacon chain on June 20. This testnet, like the Ropsten testnet, should complete the transition to PoS by the end of this month.

This is interesting news as this is also quite soon after the Ropsten merge and this again contributes to the rollout of the ETH 2.0 update that everyone is waiting for.

Technical analysis ETH

The technical picture of ETH looks very bad for both the short term and the medium term. The short term (yellow lines) and the medium term (white lines) show a clear downward trend channel. At the moment it even looks like going towards the bottom of the channel.

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The RSI also seems in oversold area, or below 20. This has caused a revival in the past. However, it does not appear as yet that this is the turning point for ETH.

There is also an extensive technical analysis ready in the Discord channel of Crypto Insiders. Here we provide a clearly substantiated, direction, and price levels where ETH could potentially go, and what we are keeping a close eye on.

What are the expectations for Ethereum?

Whether the above developments will have a further impact on the price depends on a large number of factors that differ daily. The crypto market is currently heavily affected by economic events and the traditional stock markets. This makes it even more difficult to determine which direction the price will go in the future.

Want to see Ethereum analytics sooner?

Would you like to see this kind of price analysis of crypto sooner? Then we would like to refer you to our Discord community for members. Here, experienced analysts and traders discuss their own trading plans on a daily basis. We also regularly share additional price analyzes and updates of projects that we have discussed earlier in this section. Through Discord we can share knowledge with each other 24/7 and we try to stay ahead of the market together with our members.

Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts’ own insights and experiences and are for educational purposes only.

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