Both the cryptocurrencies Bitcoin (BTC) and Ethereum (ETH), which are both showing bearish signals at the start of the new week, are still losing money. The overall cryptocurrency market is also having trouble, as Bitcoin and ETH have both dropped by more than 6% over the last few days.
Other well-known cryptocurrencies with unfavorable sentiment include Litecoin (LTC) and Dogecoin (DOGE).
The Federal Reserve is more likely to adopt a hawkish attitude as a result of the steady stream of positive US economic statistics, which is one of the main causes hurting the market for cryptocurrencies, including Bitcoin.
The Silvergate scandal has also made the market’s losses worse. In the meantime, Binance’s management voiced worries about potential regulatory problems stemming from their partnership with Binance US.
It’s important to note that Binance thinks US regulators will see them as a single organization, which might lead to regulatory challenges and significant Bitcoin losses.
Moving ahead, the cryptocurrency market is projected to strengthen as traders and investors eagerly await strong economic data from China, which is anticipated to be announced this week.
Today’s Ethereum Price
| DATE | ETC | USD |
|---|---|---|
| Today | 01 | $ 1,555.13 |
Ethereum Price Prediction
Ethereum currently has a value of $1,570 with a 24-hour trading volume of $6.7 billion. The value of Ethereum has decreased by 0.15% during the last day.
Technically speaking, the ETH/USD pair is presently trading in a constrained range between $1,550 and $1,580.
Ethereum’s price could find support at $1,500 if it drops below the $1,560 threshold. It should be noted, though, that strong resistance exists at the $1,620 or $1,680 levels, which may serve to halt any additional price drops.
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