- By December 10, the price of ether in U.S. dollars, which is currently over $1,200, is predicted to drop to $922.66, according to aprediction chart.
Out of a total of 28, 15 technical indicators currently predict a pessimistic future for the asset, according to the Coincodex research.
The analysis by the digital asset exchange platform Coincodex predicts that by December 10, the value of ETH in US dollars will fall to $922.66.
According to the analysis, for this prediction to come true, the price of ether, which was $1,230 on December 7 at 1:00 p.m. EST, would need to drop by almost 25%.
The Coincodex team mentions ETH’s negative trend, which is demonstrated by its 21.5 cline between Nov. 5 and Dec. 5, in a report that details some of the variables that contributed to the negative price projection.
In a similar vein, the price of the crypto asset dropped by over 23% over the course of 90 days that ended on December 5.
Ethereum’s medium-term trend has been bearish, with ETH declining by -22.81% in the previous three months [to December 5]
[The price decrease forecast is based on the fact that 54%, or 15 out of a total of 28, technical indicators support the categorization that the current state of the ethereum markets is highly negative.
The Coincodex ETH prediction chart, however, seems to indicate that ETH’s decline to below $1,000 will only endure for 24 hours despite the pessimistic forecast.