{"id":55726,"date":"2023-09-01T10:13:04","date_gmt":"2023-09-01T14:13:04","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/ethereum-price-prediction-as-bears-push-eth-down-to-1600-level-more-pain-on-the-way\/"},"modified":"2023-09-01T10:13:08","modified_gmt":"2023-09-01T14:13:08","slug":"ethereum-price-prediction-as-bears-push-eth-down-to-1600-level-more-pain-on-the-way","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=55726","title":{"rendered":"Ethereum Price Prediction as Bears Push ETH Down to $1,600 Level \u2013 More Pain on the Way?"},"content":{"rendered":"
\n

The cryptocurrency market is experiencing waves of volatility, with Ethereum at the forefront of this turbulence.\u00a0<\/p>\n

Currently trading at $1,644, Ethereum has seen a 3.72% decline in the last 24 hours, pushing its market cap to approximately $197.67 billion.\u00a0<\/p>\n

This bearish movement, reflected in its trading volume of $6.4 billion, raises concerns about the potential for more losses.\u00a0<\/p>\n

As Ethereum holds its position at #2 on the CoinMarketCap ranking with a circulating supply of 120,215,528 ETH coins, the market anxiously awaits its next move.<\/p>\n

Ethereum Price Prediction\u00a0<\/strong><\/h2>\n

Ethereum’s valuation struggled to surpass the $1,750 mark, consequently erasing its gains relative to the greenback. A further downward trend might emerge if ETH breaches the $1,630 threshold.\u00a0<\/p>\n

Despite attempts, Ethereum could not maintain its footing above $1,700 and subsequently witnessed a significant decline reminiscent of Bitcoin’s trajectory.<\/p>\n

A notable dip occurred beneath the $1,660 marker, with the price momentarily plunging under $1,640. After probing the $1,630 support, it’s currently in a phase of loss mitigation.\u00a0<\/p>\n

Furthermore, an emerging bearish trend line, with a resistance around $1,690, is discernible on the hourly ETH\/USD chart.<\/p>\n

Subsequent resistances lie around $1,680 and near the trend line at $1,700 – proximate to the 50% Fibonacci retracement of its recent downtrend.\u00a0<\/p>\n

Should Ethereum surpass $1,700, it could potentially approach $1,750.\u00a0<\/p>\n

A decisive ascent beyond $1,750 may pave the way for Ethereum to target the $1,800 barrier. Further positive traction could propel it towards the $1,850 mark.<\/p>\n

Conversely, if Ethereum is unable to transcend the $1,700 barrier, we might observe a continued descent.\u00a0<\/p>\n

Immediate support is located around $1,640, with significant supports at $1,630 and $1,600 respectively.\u00a0<\/p>\n

A drop below the crucial $1,600 benchmark might amplify the decline to $1,540.\u00a0<\/p>\n

Further descent may push Ethereum closer to the $1,480 mark in the foreseeable future.<\/p>\n

Wall Street Memes – The Alternative Coin Worth Considering<\/strong><\/h2>\n

Currently, many investors are exploring diverse opportunities within the cryptocurrency realm, and Wall Street Memes has caught their eye. The $WSM presale, representing a meme coin, has stirred considerable excitement among the investment community.<\/p>\n

Originating from Wall Street Memes, a renowned online community catering to these enthusiasts, this coin is making waves.<\/p>\n

The crypto project by Wall Street Memes commenced its presale on May 26, 2023, accessible through their official portal wallstmemes.com.<\/p>\n

During its initial phase of the thirty-stage rollout, the WSM token was offered at a price of $0.025.<\/p>\n

The response to the Wall Street Memes presale was overwhelmingly positive, with the first day witnessing a collection exceeding $300,000, eventually amassing a total of $25 million.<\/p>\n

Currently, the WSM tokens in this presale phase are available for acquisition at $0.0337.<\/p>\n

Seizing this opportunity could pave the way for potential growth. Dive into the Wall Street Memes investment journey and experience a potentially lucrative venture.<\/p>\n

Buy $WSM\u00a0Here<\/strong><\/p>\n

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.<\/sup><\/i><\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The cryptocurrency market is experiencing waves of volatility, with Ethereum at the forefront of this turbulence.\u00a0 Currently trading at $1,644, Ethereum has seen a 3.72% decline in the last 24 hours, pushing its market cap to approximately $197.67 billion.\u00a0 This bearish movement, reflected in its trading volume of $6.4 billion, raises concerns about the potential […]<\/p>\n","protected":false},"author":1,"featured_media":55727,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-55726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nEthereum Price Prediction as Bears Push ETH Down to $1,600 Level \u2013 More Pain on the Way? | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The cryptocurrency market is experiencing waves of volatility, with Ethereum at the forefront of this turbulence.\u00a0Currently trading at $1,644, Ethereum\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=55726\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Price Prediction as Bears Push ETH Down to $1,600 Level \u2013 More Pain on the Way? 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