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Ethereum Price Prediction: Bears Contemplate An 8% Decline As ETH Drops Below 100 SMA

source-logo  coingape.com 17 December 2021 10:40, UTC

Ethereum price dropped below the 100 Simple Moving Average (SMA) at $3,920 on December 17, unravelling a possible bearish forecast. The descending parallel channel chart pattern suggests that Ethereum could see an 8% drop. To invalidate the pessimistic outlook, ETH would need to overcome the 100-day SMA resistance.

coingape.com