As Ethereum is facing strong resistance, it could also drop below its current level in the past few weeks. Analysts say the coin is open to fall below $ 300 in the coming weeks. Leading altcoin is trying to withstand critical resistances around $ 360-375, the coin will have to cross this zone.
Analysts Fear Ethereum Will Drop to $ 300 Soon
Analysts say Ethereum is poised to fall further as the cryptocurrency faces strong resistances above its current price. A trader shared the chart below on September 29 and stated that ETH will move lower rather than rise from here.
It is stated that the resistance Ethereum is currently facing above its price is much more notable than the supports below. So much so that the trader said the cryptocurrency could drop to $ 275-300 in the near future.
Michael Van De Poppe, a cryptocurrency analyst and trader on the Amsterdam Stock Exchange, recently said that the failure of the asset to pass the critical $ 366-375 barrier would be disastrous for the bulls.
