Ethereum

Bitcoin

PEPE

Coin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-faces-significant-decline" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Faces Significant Decline</a><br></p>
<p style="text-align: justify">Ethereum (ETH), the second-largest cryptocurrency by market value, has experienced a considerable drop following a recent decline in Bitcoin (BTC). The decline is attributed to widespread fears of overwhelming BTC sales in the market. A renowned analyst had previously predicted a potential bottom for Ether amid this downturn.</p>
<h2 id="how-low-will-ethereum-go">How Low Will Ethereum Go?</h2>
<p style="text-align: justify">In his latest market update, popular <a href="https://en.bitcoinhaber.net/bitcoin-ascends-to-63000-fuels-altcoin-optimism" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto analyst</a> Credible Crypto discussed the potential <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a> of Ethereum. Before the recent drop, with prices hovering around $3,000, he had pointed to open interest as a key indicator of a possible decline. ETH has since fallen, but has it reached the predicted levels?</p>
<p style="text-align: justify">In his analysis, Credible Crypto observed that although open positions in futures had declined in USD terms due to the price drop, a significant drop in positioning had not yet occurred. He estimated that a new bottom might be set between $2,200 and $2,700, urging watchers to monitor open positions as ETH approaches these levels.</p>
<p style="text-align: justify">If this prediction holds, BTC could fall to $50,000, with Ether potentially bottoming below $2,700. This decline might coincide with a steady net outflow process, similar to GBTC sales, and is expected in the next week or two.</p>
<h2 id="pepe-coin-bottom-target">PEPE Coin Bottom Target</h2>
<p style="text-align: justify">The analyst also addressed PEPE Coin, a prominent meme coin that recently achieved a new all-time high. Despite its strong <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investor base</a>, Credible Crypto suggested that PEPE might have completed its deviation at the top of its range and is now targeting the lower levels. He predicted that PEPE could see a minimum downside target of 30%-40% lower and, in a more severe dip, losses could extend to 60%-70%.</p>
<p style="text-align: justify">The target for PEPE Coin is around $0.0000040.</p>
<h2 id="analytical-insights">Analytical Insights</h2>
<p style="text-align: justify">• Monitor open positions in ETH futures as an indicator of further declines.<br> • Expect potential BTC price drop to $50,000, influencing ETH’s bottom.<br> • Watch for PEPE Coin’s price to reach around $0.0000040 with a possibility of 30%-70% decline.</p>
<p style="text-align: justify">In conclusion, the predictions from Credible Crypto suggest that both Ethereum and PEPE Coin may face further declines. Keeping a close eye on open interest and market movements will be crucial for investors navigating these turbulent times.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereum-faces-significant-decline" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Faces Significant Decline</a></h5>

Ethereum Faces Significant Decline

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