Ethereum Price has seen many declines after hitting its all-time high of over $4,900. The move forced the bears back prices and resisted the campaign to reach $5,000. So far, the Bears have maintained control, and this seems to have been the case for a while, with the technology pointing to a possible 10% crash that will again send the price to $4,000.
Why Ethereum prices are at risk
In a previous analysis update, Klejdi Cuni predicts further declines in Ethereum prices, predicting that the bearth metric will be more pronounced. Previous forecasts shared over the weekend pointed out that Ethereum prices had been broken from bearish triangle patterns. This suggested further movement towards the $4,300 territory.
Related readings
True to our forecast, Ethereum prices actually retreated, shortly below $4,300 before bouncing back again. This comes after the price fell support at $4,490. Since the first part of the prediction was met, ETH was able to unfold the full prediction from here.
Crypto analysts have previously revealed that they expect Ethereum prices to drop even further. It first went to $4,335, then $4,215, and eventually to $4,081. This prediction was repeated in an updated analysis, indicating where prices were headed next.
The next list of cryptocurrencies is to test the resistance zone at around $4,500. This suggests that prices were previously cancelled levels and similar trends could occur. If the price is rejected here, it could indicate a continuation of a bearish trend.
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The analysis also combines performance in Bitcoin prices, which continues to drive the entire market. So far, Ethereum prices have been superior during the recent market crash. However, if Bitcoin prices continue to decline, Ethereum prices could continue in the same direction. Adding the fact that the situation around the US dollar remains unknown, analysts have seen a lot of risks during this time.
It is also possible that Ethereum prices are heading towards positive again. This has to do with a $4,650 resistance and acts as a make-up or break level. If the price is rejected from here, it could mean a greater reduction. However, if ETH Bulls can regain it in strength, it could serve as a bounce off point for the next gathering.
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