{"id":15257,"date":"2022-12-08T10:07:26","date_gmt":"2022-12-08T10:07:26","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/eth-price-to-fall-to-922-by-december-10-coincodex-predicts-markets-and-prices-bitcoin-news\/"},"modified":"2022-12-08T10:07:26","modified_gmt":"2022-12-08T10:07:26","slug":"eth-price-to-fall-to-922-by-december-10-coincodex-predicts-markets-and-prices-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/eth-price-to-fall-to-922-by-december-10-coincodex-predicts-markets-and-prices-bitcoin-news\/","title":{"rendered":"ETH Price to Fall to $922 by December 10, Coincodex Predicts \u2013 Markets and Prices Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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The U.S. dollar price of ether, which presently hovers around $1,200, is expected to fall to $922.66 by Dec. 10, a Coincodex prediction chart has shown. Ethereum is nonetheless projected to close the following day trading above $1,000. According to the Coincodex analysis, there are presently 15 technical indicators out of a total of 28 that project a bearish outlook for the asset.<\/strong><\/p>\n

ETH<\/a>\u2019s Negative Trend<\/h2>\n

According to an analysis<\/a> by the digital asset exchange platform Coincodex, the U.S. dollar value of ETH<\/a> is expected to drop to $922.66 by Dec. 10. The analysis suggests ether price, which stood at $1,230 on Dec. 7 (1:00 p.m. EST), must decline by almost 25% for this prediction to become a reality.<\/p>\n

In a report which shares some factors that led to the negative price prediction, the Coincodex team also points to ETH<\/a>\u2019s negative trend which can be evidenced by its 21.5% decline between Nov. 5 and Dec. 5. Similarly, in a period of 90 days that ended on Dec. 5, the crypto asset\u2019s price fell by nearly 23%.<\/p>\n

Bearish Conditions in Ethereum Markets<\/h2>\n

Explaining the negative outlook for ETH<\/a>, Coincodex said:<\/p>\n

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The medium-term trend for Ethereum has been bearish, with ETH<\/a> dropping by -22.81% in the last 3 months [to Dec. 5]. The long-term picture for Ethereum has been negative, as ETH<\/a> is currently displaying a -69.28% 1-year price change. On this day last year, ETH<\/a> was trading at $ 4,220.95.<\/p>\n<\/blockquote>\n

After reaching an all-time high of $4,862.24 on Nov. 9, 2021, ETH<\/a> has declined by nearly 75% since then. The prevailing sentiment in ethereum markets remains largely bearish with 54%, or 15 technical indicators out of a total of 28, supporting this characterization \u2014 hence the price drop prediction.<\/p>\n

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Source: coincodex.com<\/figcaption><\/figure>\n

However, despite the negative prediction, the Coincodex ETH<\/a> prediction chart seems to suggest that ETH<\/a>\u2019s drop to below $1,000 will only last for 24 hours. Just a day after tapping the new 30-day low, the price of ETH<\/a> is expected to rally to $1,019.56 by Dec. 11.<\/p>\n

What are your thoughts on this story? Let us know what you think in the comments section below.<\/strong><\/em><\/p>\n

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\nTerence Zimwara <\/h6>\n

\nTerence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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