Ethereum price analysis as bearish trend returns

Ethereum price had been on an upswing last week, but it turns out that the start of this week has been red for all cryptocurrencies including ethereum.

Today’s roll over for ethereum seems to have been caused by a sell off across the board. Ethereum broken below the $1000 level and if the bearish streak continues, we are looking at further decrease to $800. If you have enough financial strength to handle the decline, you must wait as ethereum price is expected to increase beyond $1300 levels and in the long term it is expected to breach $2000 by year end.

Ethereum markets went sideways during the day on Monday, bouncing around the 0.09 level. The market continues to consolidate between the 0.08 level on the bottom, and the 0.10 level on the top. Currently, there is not much in the way of volume or price action, so avoiding this market makes sense.

Richard Newman

Richard is the Editor-in-chief of Bitcoin Journal. He has over 10 years of experience with the news industry mainly handling the editorial cycle.

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