Ethereum

Bitcoin

Coin

The price of <a href="https://coin-turk.com/2020-kripto-paralar-icin-umut-yili-olacak" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/bitcoin-ordinals-protocol-changing-code-system-a-proposal-from-the-founder/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> continues to drop, with the crypto king racing towards new daily lows below $26,800. This downward movement has led to even greater losses for altcoins. So, what’s next for ETH? What is the price targeting after returning to the long-term support line? Let’s discuss the current data and expectations.
<h2 style="text-align: justify" id="ethereum-eth">Ethereum (ETH)</h2>
At the time of writing, the Ether price was at $1,557. The losses of 1% continue, and the negativity has persisted since last Tuesday. The futures ETFs were a complete disappointment. Then, the possibility of the conflict between Palestine and Israel spreading to the region affected global markets.
The weekly chart readings show that the altcoin king has been falling since April. The price reached $2,140 in the beginning of the second quarter, marking its annual peak. However, breaking through the horizontal resistance area at $1,950 remained only a deviation.
After confirming the resistance in July, the price returned to its previous position. The summary decision of <a href="https://coin-turk.com/xrp-davasi-ile-ilgili-onemli-aciklama-eski-baskan-anlasma-hakkinda-konustu" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/ripple-decision-impact-and-analysis-a-comprehensive-report-by-the-digital-chamber-of-commerce/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ripple</a> offered a selling opportunity in many altcoins, but investors realized this as time went on. This week, we saw the price drop to $1,546. To sustain upward movement in the medium term, the support area must be maintained.
<h2 style="text-align: justify" id="eth-coin-price-predictions">ETH Coin Price Predictions</h2>
In addition to the negativity in the general market sentiment, Ethereum also has its own unique problems. Firstly, the decreasing number of transactions in the bearish market environment negatively affects network revenue and brings inflation back to positive levels on a monthly basis.
<img decoding="async" class="size-full wp-image-265468 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/10/ETH-Coin-Fiyat-Tahmin.png" alt="" width="1883" height="781">
On the other hand, concerns about centralization are also making waves. Ethereum’s founder, Vitalik Buterin, proposed a two-tier stake system to address these centralization concerns. In this system, key participants will be Node Operators and Delegators. This will both alleviate centralization concerns and enhance security in staking pools.
However, debates will continue due to liquid stake protocols like Lido representing another aspect of the problem. In summary, the outlook for ETH is not very bright, and if the downward trend continues, it is likely to visit deeper lows.
At this point, <a href="https://en.coin-turk.com/spot-bitcoin-etf-applications-will-they-get-approval-from-the-sec/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> price performance will be decisive. The target for ETH in the event of a possible shock sell-off is $1,350.
<div class="sorumluluk_reddi" style="text-align: justify">Disclaimer: The information in this article does not constitute investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and should conduct their own research.
</div> Continue Reading: <a href="https://en.coin-turk.com/ethereum-eth-price-analysis-will-the-downtrend-continue/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/ethereum-eth-price-analysis-will-the-downtrend-continue/</a>

Ethereum (ETH) Price Analysis: Will the Downtrend Continue?

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