This Macro Trend Signals Ethereum Will Soon Reach $40, Notes Analyst

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Ethereum has seen all of its recent upswings grow weaker throughout the past several months Underlying weakness amongst ETH buyers could be enough to lead the cryptocurrency to as low as $40-50 by the end of 2021 Ethereum, like Bitcoin and most other cryptocurrencies today, has further extended the downwards momentum that was first sparked yesterday when the crypto lost its recent momentum and declined from highs of $190. This current weakness appears to be directly correlated to that of Bitcoin, and one analyst is noting that he anticipates ETH to ultimately decline to as low as $40-50 by the end of the year. Ethereum Flashes Signs of Underlying Weakness At the time of writing, Ethereum is trading down just under 2% at its current price of $179, marking a slight extension of the downwards momentum incurred yesterday. This bear-favoring short-term trend came about after the crypto faced a firm…

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