Key Takeaways
- Ethereum’s price struggles around $3,000 amid speculation of a bullish rally.
- Crypto experts applaud ETH’s price holding the key demand zone at $3k following the recent market crash.
- Crypto experts believe the bull market is far from over for altcoins, as the market looks to rebound despite BTC struggles.
The price of Ethereum is once more trading around $3,000 following a sharp decline in Bitcoin from $93,000 to $89,000, leading the market to panic once more over potential market manipulation.
Following the price of Bitcoin in recent weeks trading towards $90k highs, speculations were suggesting the price could trade higher towards $107k ahead of the yearly close, but things are turning out not as expected, as the price is at a critical zone.
A crash in the last few hours for BTC has seen the market worried about altcoins once more, as ETH could potentially trade towards key zones of $2,500. While market uncertainties persist, we are unsure whether Ethereum’s price can reclaim its $5k high as previously speculated.
While recent uncertainties in the last few months have continued to trouble many traders and investors who had high hopes for the crypto market, currency market price action is a worry for the likes of ETH, as the price could suffer a significant decline if current zones are not protected.
Is this possible before the end of the year at a price around $5k?
Ethereum (ETH) Price Action Up or Down?
While Ethereum remains the future of finance, Tom Lee, who has gained attention in the crypto space for his speculation of ETH, has suggested the price could trade towards a region of $62k as the crypto asset remains the future of finance following its recent upgrade.
However, the price of ETH has struggled to show real volume to the upside as the market uncertainties have affected its price action and the sentiment around trading the crypto asset. Speculation of price trading towards $5k before the end of the year remains slim, as price struggles to reclaim the $3,500 key region.
FAQs
Will Ethereum reach $10,000?
The possibility of the crypto asset reaching $10,000 before the year ends seems unlikely, as the price has struggled over the last few weeks but could trade around $3,700.
What is the future of Ethereum?
ETH has a future, as many crypto projects would be built on its network, leveraging its security to develop a sustainable system that could provide improved payment solutions.
Should I hold or sell Ethereum?
The decision to hold or sell ETH depends on individuals, as the crypto asset’s price is volatile under different market conditions.
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