Ethereum Could Drop Below $1,000, According to Bloomberg
According to a recent Bloomberg article, the second-largest digital currency, Ethereum, is likely to fall as low as $1,000 or even drop below. Bloomberg cites technical indicators suggesting ETH’s fall from the August high of $2,000 to the current $1,500 level may take it much lower, despite the much-expected Merge upgrade approaching as the event’s date was announced between September 10 and 20, roughly on September 15. Katie Stockton, the co-founder of Fairlead Strategies, told Bloomberg that the coin has gone below the initial support from its 50-day MA. The risk of a significant short-term decline is now stronger than before. Stockton thinks that could happen in the next few days.
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