Ethereum (ETH) Price Analysis: Could This Be the End of Market Crash?
Ethereum’s price is trading firmly above $1000, despite Bitcoin’s struggles to gain the levels back above $20,000. The current bounce from the lows just above $1000, a couple of times indicates the possibility of the ETH price maintaining a notable upswing. However, the upper target may not be too far, as the possibilities of creating a hopium also emerge.
The crypto markets have been negatively impacted by multiple external factors that include LUNA-UST, Celsius & the probable Tether in the coming days. However, after experiencing tremendous selling pressure from the levels close to $3000, ETH’s price is leaving no stones unturned to keep up the $1000 levels.
However, this descending trend is expected to end very soon as the asset has completed its ‘AB-CD’ pattern and may ignite a strong price reversal.