The period of consolidation for ether, the second-largest cryptocurrency by market capitalization, and the broader market is coming to an end. And according to technical analysis, the price of ether (ETH) could soon plunge by 50 percent. Ethereum has been trading sideways in a range between $1,500 and $1,800 since the start of May. The technical charts show that Ethereum’s price is now being held up by its 200-day moving average – a closely watched long-term trend indicator. That’s a sign of strength as it indicates the support level provided by large traders and is often used as a benchmark for determining investment opportunities. Ethereum’s price is now being held up by its 200-day moving average.

Crypto in general has had a rough year so far BTC is down roughly 33% from the beginning of the year and many other cryptos follow the same path. This has even been a growing concern for the NFT market.

The period of consolidation for ether, the second-largest cryptocurrency by market capitalization, and the broader market is coming to an end.

The period of consolidation for ether, the second-largest cryptocurrency by market capitalization, and the broader market is coming to an end. The markets are now on the move and it’s likely that we’ll see significant downward movement from where they are today.

I want to make it clear that this isn’t necessarily a correction or reversal—it could also be both. But what I do know is that after months of relative stability, ether looks set for a drop in price as confidence in its future fades away amidst uncertainty about whether there will be any use case for Ethereum’s planned blockchain upgrade known as Serenity (or “Ethereum 2.0”).

And according to technical analysis, the price of ether (ETH) could soon plunge by 50 percent.

Now, before we delve into the details of the Ethereum hard fork, let’s take a look at some technical analysis to see what might happen to its price if this occurs.

The chart below highlights ETH-USD since January 25th and it has been on a downward trend since then. This can be attributed to two major events: The first one was when Coinbase announced that it would add support for Bitcoin Cash (BCH) on its platform and the second one was when Bithumb – one of South Korea’s largest cryptocurrency exchanges – lost 200 million dollars worth of crypto due to a hack.

Ethereum has been trading sideways in a range between $1,500 and $1,800 since the start of May.

The trend could continue as more and more large traders are likely to be attracted by the low volatility, high liquidity, and slow but steady growth that is characteristic of this market.

More importantly, Ethereum’s price has been trading sideways in a range between $1,500 and $1,800 since the start of May. While this may seem like a long time for prices to stay within such a tight range, it actually suggests strength because it indicates that there are large traders supporting these levels. In fact, if you look at other cryptocurrencies or assets like gold or oil that often trade with very low volatility (for example when they are in a bull market), most of them also have had similar periods where their price moved very little over several weeks or even months at once before starting to move up again.

The technical charts show that Ethereum’s price is now being held up by its 200-day moving average – a closely watched long-term trend indicator.

If a security’s price is above its 200-day moving average, it is considered to be in an uptrend. If it’s below, then the trend is down.

The 200-day moving average has long been a key benchmark for investors and traders when making investment decisions. It offers a sense of context for traders and investors who may not be familiar with price charts or technical analysis. The chart below shows that Ethereum’s recent fall has carried it below its 200-day moving average for the first time since November 2017 – which could be interpreted as an indicator of weakness heading into 2019.

This doesn’t mean much on its own; many cryptocurrencies have been caught up in this downward trend over the past few weeks and months due to market uncertainty around China’s crypto crackdowns and other regulatory measures across Asia and Europe (as well as political turmoil here at home). But if you look closely at Ethereum’s chart, there are some signs that suggest positive things ahead:

That’s a sign of strength as it indicates the support level provided by large traders and is often used as a benchmark for determining investment opportunities.

You’ve probably heard of the 200-day moving average, but what is it and what are the implications for Ethereum?

The 200-day moving average is a trend indicator used to determine investment opportunities. It’s often used as a benchmark for determining investment opportunities because it provides an indication of how long investors have been holding on to positions without closing them. That’s a sign of strength as it indicates the support level provided by large traders and is often used as a benchmark for determining investment opportunities. The 200-day moving average can be calculated using daily prices or trading volumes – whichever offers more clarity about investor sentiment at that time.

So why does this matter? Because if you’re looking at whether or not investing in ethereum will yield good returns then understanding how people are feeling about their investments could help you make your own decision about whether now is the right time for you as well!

Ethereum’s price is now being held up by its 200-day moving average.

The 200-day moving average is a popular technical indicator because it’s easy to identify and follow. The longer the time frame, the more significant this level can be in determining investment opportunities and future trends. To put things into perspective, the 200-day moving average is one of the most popular metrics because it represents a long-term trend indicator. It’s also used as a benchmark for investors to determine their investment opportunities or whether they should sell their positions before they plummet further into bear territory (i.e., when prices are trending downward). Large traders often use this level as support for their trades and will prop up shares if need be by buying large quantities of stock if it falls below its 200-day moving average.

Conclusion

Ethereum’s price is now being held up by its 200-day moving average. That’s a sign of strength as it indicates the support level provided by large traders and is often used as a benchmark for determining investment opportunities. However, if the cryptocurrency fails to break above $1,800 in the next few days then prices could fall by half to $900 – which would be a big blow to investors who have already lost over 80 percent since January.

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