ETHEREUM WILL HIT $10,000!

Can Ethereum (ETH) Recover More Than It Plunged?
All the top 10 cryptocurrencies are trading in the world as over the weekend continues to take hold. The entire cryptocurrency market has lost over $50,00,00,00,000 Dollar (billion) of its market capitalization since the weekend decline engaged a new gear into the red zone. Ethereum (ETH), the leading crypto assets have cumulative losses of more than 10%.

Ethereum took a dive in the hours following negative news and has so far struggled to regain any upside momentum. It dipped to nearly touching the $500 mark which would have opened a threat of going below that level and a truly abyss opening up. In a difficult May and June ETH has on several occasions tested the trendline and panic-selling all over the market is driving prices into the ground.

Ethereum has fallen by 9.29 percent , it had dropped to $478.52 at 8.30pm on March 26, after it opened at $525.62 on March 26, according to CoinMarketCap.

The second largest cryptocurrency plunged to $483.30 at around 1pm March 26 and has only made up some of the ground it has lost.

Ethereum reached a high of $589.61 on March 19, meaning it has plummeted by 18.84 percent to the value it stands at March 26.

During midweek trading ETH experienced a freefall to hit a hard bottom of $512.27.

Aayush Jindal, Productoin ETH news, Explained if the price of Ethereum managed to push above $515, Then it could rise cryptocurrency again.

“In the weekly productoin, We discussed the importance of the $500 support in ETH/USD. The pair failed to hold this level and declined further,” Jindal said.

“Looking at the 30-minute chart of ETH/USD, there was a clear bearish break below a horizontal support at $518.00. As a result, There was a sharp drop and the price broke the $510 and $500 levels.

“A new weekly low was formed at $477.31 before buyers appears. The last 30-minute candles are pointing to signs of a recovery. However, There are many hurdles, such as $500 and $510.

“Moving up to the 2-hour chart, It seems that ETH/USD failed to break a significant bearish trending line with current resistance at $515.

“The current technical structure will remain negative as long as the price is below $515, but a successful 2-hour close above this level may perhaps decrease the current bearish pressure and open the doors for a fresh upward wave.

“On the flip side, The recent low of $477. May act as a decent support, The next buy zone being around $450. Overall Ether could rise in the short term but it remains at a risk of more losses until there is a break above $515.00.”

Ethereum along with the other top five cryptocurrencies are in the red today.

What Do You Thing Comment Below?