Textbook Pattern Predicts Ethereum Will Plunge Over 20% if $220 Is Lost
bitcoinist.com
Ethereum’s price action may be textbook indecision, yet an analyst said that the asset is moving ever closer to a breakdown. Former Messari head of product Qiao Wang noted that Ethereum users have been subject to high fees recently.
Notably, Ethereum has also seen a spike in the number of active users, largely due to the decentralized finance (DeFi) craze. Assuming Ethereum usage also affects ETH’s price and if the correlation between ETH and BTC holds, the asset may reject the expectations it falls to $175.
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