An expert predicts that the price of Ethereum will drop to this new level!

An expert predicts that the price of Ethereum will drop to this new level!
An expert predicts that the price of Ethereum will drop to this new level!
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The price of Ethereum has recently witnessed some decline, after a 40% rise in January, which gave investors an opportunity to buy Ethereum at low levels, although the price of Ethereum reached a high of $1,674 last Saturday, and it is being traded today. Below $1550 due to profit taking by traders.

In this context, the famous digital currency expert, Michael Van de Pop, expected in a recent tweet, today, Wednesday, that there will be a further decline in the price of the Ethereum currency, adding that it is likely that Ethereum will continue its decline towards the level of $ 1450, although the price of the digital currency It might see some bounce from the crucial $1550 support

Michael Van de Poppe explained that the actual bounce for another rally in Ethereum price will only come from below this crucial support level near the $1550 level.

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And the price of Ethereum fell by about 5% during the past 24 hours, to reach a low level of $ 1530, due to profit-taking by traders, as selling whales was one of the main reasons behind the recent decline in Ethereum prices, according to Whale Alert data, A whale sold 24,768 ETH (estimated at around $38 million) on cryptocurrency exchange Coinbase today. Also, a whale has been offering Ethereum for sale on cryptocurrency platforms in the past few days at a value of $200 million.

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Also, the data on the Santiment profit-taking chain confirms that transactions today for Ethereum have risen strongly since the Ethereum price reached a high of $1,674, indicating an increase in profit-taking.

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