Ethereum Primed to See Further Short-Term Losses Toward $300


Ethereum has dropped in tandem with Bitcoin over the past few days. The leading cryptocurrency fell as low as $330 while BTC slipped to $10,400. While Ethereum has since recovered from those lows to $345, the coin is expected to resume its move lower. Analysts currently see the cryptocurrency moving towards the $300 region. While this short-term drop is expected, investors are optimistic because Ethereum is forming a medium-term falling wedge. A falling wedge is a textbook bullish pattern often seen in the middle of uptrends. Ethereum Could See Short-Term Downside Towards $300 Ethereum is primed to move towards the $300 in the near term, a number of analysts have recently said. They note the cryptocurrency’s inability to move higher in the near term as ETH faces resistances in the $350-375 range. One crypto analyst, the head of technical analysis at Blockfyre, recently shared the chart below with the following…

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