Top Analyst Maps Out What's Ahead for Ethereum, Avalanche and Polkadot Amid Crypto Market Correction

A popular crypto analyst is giving forecasts for Ethereum (ETH), Avalanche (AVAX) and Polkadot (DOT) as the correction in the digital assets market continues. In a new video, pseudonymous analyst Cheds tells his 45,700 subscribers that leading smart contract platform Ethereum could plunge below the $2,000 level as the price of (BTC) threatens to keep The post Top Analyst Maps Out What's Ahead for Ethereum, Avalanche and Polkadot Amid Crypto Market Correction appeared first on The Daily Hodl.

Timeline of Avalanche, Polkadot-new, Ethereum

As global threats continue to rise, the overall cryptocurrency market is treading water. The second-largest cryptocurrency by market capitalization, Ethereum (ETH), is still being impacted by the crypto-wide sell-off. ETH has lost over 4% in the last 24 hours and over 5% weekly, outperforming other altcoins with diverse dynamics.  After failing to break above the …

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. The past month belonged to the sellers as they redefined the sentiment by steering the trend to their fancy.

On April 21st, the Avalanche(AVAX) price gave a bearish breakdown from a three-month-old rising wedge pattern. The post-retest fall tumbled the altcoin by 25%, bringing it to $60 psychological support.

The recent Yuga Labs NFT launch on the Ethereum blockchain has crippled the network after demand surpassed all expectations. In total, more than $500 million had been raised in a matter of 24 hours.

The price of ethereum (ETH) might reach a new all-time high of USD 6,872 in 2022 before correcting to USD 5,783 by the end of the year, according to a once again less optimistic average estimate by a panel of fintech & crypto industry players. 

Ethereum price analysis is bearish today as we have seen another clear lower high set and rejection for further upside at the $2,850 resistance. Therefore, ETH/USD is likely ready to drop even lower and break past the previous low later this week.

It's always a shock to wake up and find you're not one of the top 10 anymore. In fact, that was what happened to Avalanche [AVAX] as two stablecoins and a meme coin pushed ahead of it in terms of market cap ranking so that AVAX was crypto #13 at press time.

10% of Ethereum's supply is locked in Consensys layer deposit contracts which allow for ETH to be moved from the ETH magnet to the Beacon Chain so let's read more today in our latest Ethereum news. Ethereum's consensus layer deposit contract contains over 12 million ETh and over 10% of Ethereum's supply.

Ethereum's burning protocol has hit a new all-time high (ATH) after the huge sale of tokenized land plots in Yuga Lab's Otherside Metaverse project. According to WatchTheBurn, today's Ethereum burn rate has exceeded 69,000 ETH accounting for a total ETH issuance of 61,600. This is the new single-day historical record high since EIP-1559 came into …

ETH recovered but it still has to clear major key resistance at $2850 to continue higher in the near term so let's have a closer look at today's latest Ethereum news. ETH recovered after the $2800 level in a new recovery wave with the price consolidating above $2820 and the 100 hourly simple moving average.