Sorry Bulls: Ethereum Expected to Drop Towards $300 as Rally Weakens


Like Bitcoin, Ethereum was pushing higher from last week’s lows, at least until the past few hours. In the span of about 30 minutes earlier today, the leading cryptocurrency dropped from $355 or so to $344, marking a small yet notable drop. This weakness and continued inability to surmount the resistances at $365-375 in the near term is sparking fears of a deeper drop. Ethereum Drop Triggers Fears of a Steeper Correction Michael Van De Poppe, a crypto analyst and a trader at the Amsterdam Stock Exchange, recently said that he fears a move under $300 in the near future. Van De Poppe recently shared the chart below, which shows that the cryptocurrency remains below the aforementioned resistance. This may trigger a drop towards the local lows at $315, then even lower into the $250-280 range. He elaborated: “$ETH #ETHEREUM Further downwards momentum to expect here. The crucial area that…

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