Ethereum (ETH) price breaks below the key support level of $1,430 today, falling to a low of $1,287. Whales liquidating their ETH positions and the Fed‘s hawkish stance on rate hikes are driving the ETH price to fall after the gitmek. In fact, experts have earlier warned that a further fall below $1,430 risks the Ethereum price dropping to $1,000.
Ethereum Price Breaks $1430 Support
Ethereum has lost over $60 billion in market cap in a week and over $35 billion after the Merge. Traders expected a drop in Ethereum price below $1,700 will trigger shorts. Moreover, whales liquidating their ETH positions before and after the Merge pushed the price to dive to $1,460.
As warned in a previous report, the Ethereum (ETH) price has reached an inflection point and a drop below the $1,430 support could cause the price to fall to $1,000. According to analyst Büyük Cheds, if the ETH price doesn’t rebound above the $1,270 level, it could quickly fall below $1,000. Moreover, analyst Scott Melker sees a buying opportunity at around $1,284.
Kripto analisti Michaël van de Poppe inanıyor Ethereum is weak as it lost upwards trending structure. He expects more volatility in the region between $1,200-1,300.
“Not sure whether we’ll get a bounce towards $1,425 as FED on Wednesday is most important as a decider of a trend.”
Macros Impacting the ETH Price
Ethereum (ETH) has lost its strength after it breaks below the psychological level of $1,500. Moreover, a break below the $1,430 support level led to a fall to $1,287. Currently, the Ethereum price is trading above $1,300, down nearly 9% in the last 24 hours.
The U.S. Federal Reserve will announce the rate hike during the FOMC meeting on September 21. Market experts predict a 75 bps rate hike Eylül ayında, Kasım ve Aralık aylarında ise 50 baz puanlık faiz artırımına gidildi. Göre CME FedWatch Aracı75 baz puanlık faiz artışı olasılığı %80.
Moreover, the U.S. dollar index has again climbed over 110. Thus, it has resulted in a massive sell-off in the crypto market in the last 24 hours, making the ETH price to also fall.
Sunulan içerik yazarın kişisel görüşünü içerebilir ve piyasa koşullarına tabidir. Kripto para birimlerine yatırım yapmadan önce pazar araştırmanızı yapın. Yazar veya yayın, kişisel mali kaybınızdan sorumlu değildir.
Source: https://coingape.com/this-level-crucial-ethereum-eth-price-breaks-key-support/