The Cryptos News | Daily Bitcoin News
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading
The Cryptos News | Daily Bitcoin News
No Result
View All Result
Home Top Cryptos Ethereum (ETH)

Ethereum Price Prediction: ETH to Drop to $800 Ahead of Merge

Ethereum Price Prediction: ETH to Drop to $800 Ahead of Merge
Share on FacebookShare on Twitter


Ethereum price has resumed its downward trend as the fear and greed index plunges back to the extreme fear zone. The ETH/USD pair crashed to 1,067, which is lower than the weekend high of 1,276. Its market cap has dropped to over $127 billion. At its peak, Ethereum had a market cap of over $600 billion.

Key industries are struggling

Ethereum is an important part of the decentralized industry. Its smart contract technology has been used to build some of the most important components of this industry.

For example, Ethereum has been used to build the biggest decentralized finance (DeFi) products in the world. Some of the most popular DeFi products in the ecosystem are Compound, Uniswap, and Maker among others.

Ethereum is also the dominant player in the non-fungible token (NFT) industries. Some of the top NFT projects that have been built using Ethereum are Bored Ape Yacht Club (BAYC), OpenSea, and Azuki among others.

Learn more about how to buy Ethereum.

Further, Ethereum has also been used to build the most popular gamify tokens in the industry. Some of the top gamify platforms bult using Ethereum are Decentraland and Sandbox.

While Ethereum has a strong market share, the value of its key assets has dropped sharply in the past few months. For example, the total locked value (TVL) of all DeFi protocols in Ethereum has crashed from over $150 billion to less than $50 billion.

Similarly, the total volume of non-fungible tokens (NFT) traded has been in a major downward trend. According to CryptoSlam, the volume of most NFTs has crashed. For example, the volume of BAYC has dropped by 27% in the past 30 days. Similarly, Otherdeed, Mutant Ape Yacht Club, and CloneX has fallen by over 30% in the past 30 days.

The next major catalysts for Ethereum will be the upcoming merge event and the interest rate decision by the Federal Reserve.

Ethereum price prediction

The four-hour chart shows that Ethereum rose to a high of $1,276 last week. This was an important resistance point since it was the highest level on June 26th. The chart shows that the coin has formed what looks like a double-top pattern.

The coin’s 25-day and 50-day moving averages have made a bearish crossover pattern while the Relative Strength Index (RSI) has pointed downwards. Therefore, the token will likely keep falling as bears target the key support at $800. This price is estimated by calculating the distance between the chin and the double-top.



Read More:Ethereum Price Prediction: ETH to Drop to $800 Ahead of Merge

Tags: AheadDropETHEthereumMergePredictionprice
Previous Post

How to Buy Battle Infinity in July 2022

Next Post

Bitcoin miner prices will continue to fall, F2Pool exec predicts

Related Posts

Here’s What’s Next for Bitcoin (BTC), Ethereum (ETH) and One Altcoin That Over Exploded

Here’s What’s Next for Bitcoin (BTC), Ethereum (ETH) and One Altcoin That Over Exploded

by The Cryptos News
July 30, 2022
0

A widely followed trader is exploring the near-term outlook of the two largest-crypto assets and one altcoin that has...

This is how the crypto market, especially BTC and ETH, reacted amid latest Fed hike

This is how the crypto market, especially BTC and ETH, reacted amid latest Fed hike

by The Cryptos News
July 30, 2022
0

The Federal Reserve increased the interest rate by a further 0.75% and the crypto markets responded bizarrely. The U.S....

How to Buy Polkadot Coin | Cryptopolitan

How to Buy Polkadot Coin | Cryptopolitan

by The Cryptos News
July 30, 2022
0

Polkadot is one of the top 20 cryptocurrencies by market capitalization, and it has been gaining in popularity lately.DOT...

Mehracki Token (MKI), Binance Coin (BNB), and Cardano (ADA) – Cryptocurrencies Poised To

Mehracki Token (MKI), Binance Coin (BNB), and Cardano (ADA) – Cryptocurrencies Poised To

by The Cryptos News
July 30, 2022
0

The world of cryptocurrencies is becoming ever more popular, and the speed at which people begin trading grows more...

Next Post
Bitcoin miner prices will continue to fall, F2Pool exec predicts

Bitcoin miner prices will continue to fall, F2Pool exec predicts

Subscribe
Login
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Trending News

Payperless Crypto Wallet announced working on NFT tokens support

Payperless Crypto Wallet announced working on NFT tokens support

June 25, 2022
June’s Red-Hot Inflation Report Rattled Bitcoin and Ethereum Prices. What That Means for

June’s Red-Hot Inflation Report Rattled Bitcoin and Ethereum Prices. What That Means for

July 14, 2022
Exclusive: Binance served crypto traders in Iran despite U.S. sanctions, clients say

Exclusive: Binance served crypto traders in Iran despite U.S. sanctions, clients say

July 11, 2022
ADVERTISEMENT

Investment

Buying Bitcoin on the Dip? 3 Things the Smartest Investors Know About Crypto | The Motley

Buying Bitcoin on the Dip? 3 Things the Smartest Investors Know About Crypto | The Motley

July 30, 2022
Study up and become a more informed crypto investor with this bundle

Study up and become a more informed crypto investor with this bundle

July 30, 2022
Crypto Exchange KuCoin Launches NFT ETFs By Benzinga

Crypto Exchange KuCoin Launches NFT ETFs By Benzinga

July 30, 2022
Is It Right Time To Invest In Crypto Market? Crypto Expert Shares Bullish Indicator

Is It Right Time To Invest In Crypto Market? Crypto Expert Shares Bullish Indicator

July 29, 2022
$ETH-Based Investment Products Leading Bounce-Back in July, Says CryptoCompare Research

$ETH-Based Investment Products Leading Bounce-Back in July, Says CryptoCompare Research

July 29, 2022

Prices

Latest Report Shows Cryptojacking Increased By 30% During The Crypto Slump

Latest Report Shows Cryptojacking Increased By 30% During The Crypto Slump

July 30, 2022
Tron price prediction as Unifi Protocol TVL explodes

Tron price prediction as Unifi Protocol TVL explodes

July 30, 2022
Bitcoin and Ethereum Prices Are As High As They’ve Been Since June Crypto Crash, But

Bitcoin and Ethereum Prices Are As High As They’ve Been Since June Crypto Crash, But

July 30, 2022

Crypto Flipsider News – Crypto Market Rally; Nirvana (NIRV) Exploited; Vasil Delayed;

July 29, 2022

Trading

CoinFLEX: Amid liquidity crisis, the cryptocurrency exchange had this to say

CoinFLEX: Amid liquidity crisis, the cryptocurrency exchange had this to say

July 30, 2022
SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms –

SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms –

July 30, 2022
Analysis | Why the Crypto World Flinches When the SEC Calls Coins Securities

Analysis | Why the Crypto World Flinches When the SEC Calls Coins Securities

July 29, 2022
FTX wins full approval to operate crypto exchange in Dubai

FTX wins full approval to operate crypto exchange in Dubai

July 29, 2022
Crypto exchange Zipmex files for bankruptcy protection in Singapore

Crypto exchange Zipmex files for bankruptcy protection in Singapore

July 29, 2022
  • About Us
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA

© 2021 Thecryptosnews.com

No Result
View All Result
  • Home
  • News
  • Market Cap
  • Top Cryptos
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
    • Cardano (ADA)
    • Solana (SOL)
    • Tether (USDT)
    • XRP (XRP)
    • Polkadot (DOT)
    • Dogecoin (DOGE)
    • USD Coin (USDC)
  • Prices
  • Wallet
  • Crash
  • Investment
  • Exchange
  • Mining
  • Trading

© 2021 Thecryptosnews.com

wpDiscuz