Ethereum Faces Long-Term Correction Amid Price Decline
- Ethereum’s price is currently around $1,930, continuing a descending channel pattern.
- The MACD indicator shows widespread buying weakness for Ethereum.
- Standard Chartered reduced its Ethereum price prediction for 2025 from $10,000 to $4,000.
- Ethereum’s market cap has been affected by layer 2 Base and the upcoming Converge blockchain.
- Technical indicators suggest a possible retest of support between $1,800-$1,850.
Ethereum’s price remains in a descending channel with Standard Chartered lowering its future price prediction significantly. The asset faces challenges from new technologies impacting its market capitalization.
Source (2.6)https://coingape.com/ethereum-price-remains-in-deep-correction-as-standard-chartered-slashes-eth-target-by-60/?rand=24432
