Ethereum price today, the crypto market has been hit by another “black swan” event – ​​the collapse of one of the world’s largest crypto exchanges, FTX. Ethereum, along with the broader crypto market, has lost a significant percentage of its value over the past few hours as recent events have unfolded. As rumors began to bubble up online about FTX’s potential liquidity issues, market participants became increasingly fearful, as reflected in the widespread sell-off. With Ethereum caught in the crosshairs, many participants are wondering if it’s all over for the crypto space.
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Ethereum Price Prediction Today




Ethereum has seen a substantial drop in its price over the past 24 hours as fearful investors dump their crypto holdings following the collapse of FTX Exchange. At the time of writing, ETH is trading at $1,162, down 23% on the day, with a trading volume of over $32 billion. Ethereum has seen a significant increase in its trading volume recently, likely due to panic investors selling their crypto assets in fear of a sharper drop.



ETH is now trading below its 36, 50, and 200-day Moving Averages, indicating strong selling momentum. The coin appears to be sliding towards key support at $1,000, which is a round psychological level and has held well on several occasions in the past. With Binance’s potential acquisition of FTX still pending, the general market consensus seems to be that lower prices are coming. However, the Relative Strength Index (blue) is shining a positive light at the end of the tunnel. It currently sits at 32, which is bordering on oversold territory.

Previous Ethereum Price

While it’s hard to say whether the sell-off is over, for now, there are indications that the worst may be over. It’s important to remember that crypto prices have experienced such declines many times before. In 2018, Ethereum rallied to $1,400 only to fall back to $80 in the months that followed. ETH prices then recovered and hit new all-time highs a few years later, demonstrating the project’s solid resilience. While prices may be down in the short term, many experts believe that crypto prices will be much higher in the years to come.

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