Polymarket, a popular predictions platform, predicts the Ethereum price to first fall to $2,000, before rising to $4,000
Ethereum Odds (ETHSince August 25, the odds of a coin falling below $2,000 by December 31 are increasing. They were at their lowest on Aug. 25. On Aug. 27, these odds increased from 54% to 60% as the coin fell to $2600, down from its high this week of $2 818.
Ethereum has, along with most altcoins since its peak in March at $4,085, been on a downward spiral. Since the coin must drop 23%, odds have increased that it will reach $2,000 in the near future. The coin would have to go up by 54% in order to get to $4,000.
Then, you can also look at another Polymarket poll Ether could reach $3,000 in the next few months with assets of $231,000 The majority of traders are in another poll With $1.1m, don’t look for it to reach a new record this year.
Ethereum has been faced with many challenges in the past year. Tron is facing significant competition on the stablecoin markets.TRXEach day, the’s system processes transactions worth billions of dollars.
Solana also faces competition in the Decentralized Financial industry.SOLThe demand for the meme coin grew in July. Solana had a DEX volume of $57 billion, while Ethereum managed $54.5 billion.
Ethereum has a far greater volume of transactions this month than Solana, with $50 billion, compared to $33 billion.
Ether’s biggest challenge is to overcome the misunderstanding that Ether has with its own language. its exchange-traded funds are not having traction Investors. Investors’ data SoSoValue The data shows that since the funds’ inception, they have experienced a cumulative withdrawal of $477,000,000. The funds experienced outflows over the last eight consecutive days.
Ethereum formed the cross of death
Ether’s price has also shown a pattern of lower lows and higher highs. The death cross is also visible as the 50-day and 200-day exponential moving averages crossed.
The chart has formed a flag pattern that is bearish, which indicates further downside. This will result in the next The low for this month is $2,113. If the coin falls below this point, it is possible that the coin will fall to $2,000
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Source: crypto.news