- Crypto experts are predicting further downside for Ethereum.
- TradeSZ believes that $1590 would be the next downside target.
- Ethereum is currently changing hands at $1,632.77.
As the price of Ethereum (ETH) follows in Bitcoin’s footsteps and the bearish regime continues to launch assaults, experts anticipate that ETH will continue to decline. To put this into perspective, ETH’s price has been hovering close to the $1,617 barrier over the previous several days.
ETH/USD price chart, source: Coinmarketcap
The typical outcome of a tense consolidation close to an overhead resistance is allegedly a breakout to the upward. However, if the bulls fail to hold their positions, ETH could retest its recent low point of $1,510 and be vulnerable to breaching $1,500, according to speculations from proponents.
TraderSZ, a Twitter personality, believes that $1590 would be the next downside target if the market participants start pushing lower again. With the markets at such low valuations, many analysts expect ETH/USD to plummet, and TraderSZ believes that $1590 could be the bear’s target.
$ETHUSD 1590 would be next downside target if we start pushing lower again …