Experienced analyst Peter Brandtthe king of Altcoin Ethereum, a very harsh decline in the crypto currency world attracted attention. Brandt argued that the price of Ethereum could fall up to $ 800, based on technical analysis. Pointing to the triangular formation falling in his analysis, Brandt said that this formation may be a harbinger of a greater price break. Stating that the critical support level is around 500 dollars at the moment, the experienced name believes that if the price falls below this level, Ethereum will collapse quickly.
Peter Brandt: “ETH can fall to $ 800”
Peter Brandt’s price graph shared EthereumIt reveals that it is technically under pressure. Stating that the falling triangular formation pointed to the long -term trend in the long term, Brandt warned that a serious decrease can be triggered if the price trapped in this structure hangs below 500 dollars. According to him, the levels of $ 800 tested in 2022 may come up again.
Ethereum price It has lost more than 46 percent value in the last year. The decline in Bitcoin after the decision to keep the interest rates of the FED recently was reflected in ETH. Ethereum, which lost 4 percent on a weekly basis, was traded for $ 587 when Brandt predicted. Currently, the price is at 596 dollars. At this point, let us remind you that Brandt has previously described Ethereum as “worthless scrap ..
On the other hand, the famous NBA player Scottie Pippenas of the weekend, he claimed that a large Altcoin season will begin. Pippen, who draws attention to the historical models that emerged after Bitcoin’s block award splitting, believes that Ethereum will be positively influenced by this process. Developing a project focused on artificial intelligence, games and tokening of real assets, Pippen clearly expressed his optimism for Ethereum ecosystem.
One of the important names of the crypto currency world Justin Sun He announced that he would continue to work with Ethereum developers and will continue to hold ETHs without selling their ETHs. Sun, the crypto currency ecosystem in the vision of developing together, he said. Such explanations show that despite the weakness in the price, the confidence in Ethereum has not been completely lost.
XRP left Ethereum behind at FDV
The difficulties faced by Ethereum are not limited to technical analyzes. XRP‘s full diluted market value (FDV) has reached $ 208.4 billion, leaving Ethereum behind. Ethereum’s FDV is about $ 192.5 billion. However, the point to be considered here is that FDV is a theoretical value that includes coins that have not yet been released.
Ethereum, which is worth real market, is still in front of the XRP due to its circulating supply. Nevertheless, the recent regulatory clarity of the XRP has increased the FDV, such as increase in corporate interest and growth in cross -border payments. On the Ethereum side, the tokenomic structure, which has changed after the latest updates, has made competition difficult with alternative blockchain.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
