The Ethereum price has seen a very good increase in the past few weeks. Within the past few weeks, Ethereum, like Bitcoin, has seen strong gains. However, in the last few days, the momentum has changed and a crash may be imminent. Can Ethereum crash to $1,000 again? Let’s analyze!
How did Ethereum price Perform in the last few weeks?
In the last few weeks, we have seen a strong increase in the Ethereum price. The price could rise as much as Bitcoin in 2023. From just under $1,200 at the turn of the year, the Ethereum price rose to over $1,650. That was an increase of about 40% in the last 4 to 5 weeks.
In the last few days, however, the upward trend has stopped. The price was able to stabilize around the $1,650 mark and recently even fell below it again. Failing to break above $1,700 could now reverse the market and we would see a sharp drop in price.
Will the crypto market crash?
The crypto market as a whole has seen strong gains over the past few weeks. The sideways movements of the last few days and slight declines in the last 1 to 2 days could be a harbinger of heavy losses in the next few weeks. A new crash could drive the Bitcoin price and thus the Ethereum price down.
At the moment, the price developments are not a cause for concern. Nevertheless, a massive crash may still occur in 2023, which will “cleanse” the market again and thus lay the foundation for continuous increases in the coming months.
Can the Ethereum crash to $1,000?
In 2022, the Ethereum price had to accept heavy losses again in the middle of the year. At times, Ethereum even fell below $1,000. Depending on the severity of the crash, this could happen again in the coming weeks. It could be the last time that the Ethereum price is again in a three-digit value.
It is difficult to say whether the Ethereum price can fall again to a value of 500 US dollars or close to this value . However, we assume that even in the event of a severe crisis on the crypto market, the Ethereum price cannot fall far below the $1,000 mark. The price has already stabilized too much for that. The price should very likely stay above $1,000.
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Source: https://cryptoticker.io/en/can-ethereum-crash-to-1000-technically-possible-heres-why/