Ethereum (ETH), Bitcoin (BTC) and many other major crypto assets suffered serious losses one night and lost earnings from the last rally in Ethereum, the second largest crypto asset.
This decline caused Etheruem to fall below the bullish trend line, indicating that the crypto asset may experience negativities in the short term.
Ethereum, which was traded at $ 158 at the time of writing, is significantly below the $ 165 level seen yesterday afternoon. This loss resembles more with the movement of Bitcoin.
The famous crypto asset analyst on Twitter said in a statement that Ethereum will display a downward movement in the short term and decrease to $ 145. Ethereum is seen as a high probability that it will follow Bitcoin in the coming days. In this case, if the leading crypto asset falls below $ 6,600, Ethereum is expected to experience this decrease.
Ethereum, which fell to $ 100 after the collapse in the markets on March 12, had received serious technical damage. Another crypto asset analyst on Twitter talked about Ethereum’s uptrend curve and pointed out that ETH will suffer a 10% loss if it cannot find enough support.
This downstream target close to 10%, highlighted in the chart above, closely coincides with the target presented by the above-mentioned first analyst, indicating that a move at this level could happen in the coming days and weeks.