Summary
- It was reported that Ethereum plummeted to $1402, showing a severe decline of 10.28%.
- Movements similar to past fractal patterns have been detected, and it is analyzed that it is not in an oversold state.
- It was assessed that due to the possibility of further decline, it could fall to the $990-$1240 range.
The leading altcoin, Ethereum (ETH), is experiencing a significant decline.
As of 10:22 AM on the 9th (KST), Ethereum is trading at $1402.29 on the global virtual asset exchange Coinbase, a sharp drop of 10.28% from the previous day.
Previously, the virtual asset specialist media Cointelegraph explained, "Ethereum's current price movement is similar to the fractal patterns seen in 2018 and 2022," adding, "At that time, Ethereum experienced a strong rise followed by a prolonged bear market."
Additionally, it was assessed that "Ethereum's current Relative Strength Index (RSI) exceeds 30, indicating that Ethereum is not currently in an oversold state," and "Ethereum could further decline to the $990-$1240 range."
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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