Ethereum Price Analysis: ETH Falls After Charting Bearish Cross
Daily Ethereum ETH Price Forecast
- Ethereum price is dropping towards the $1,800 psychological level.
- The MACD indicates sustained bearish market momentum.
The Ethereum price met resistance at the 50-day SMA and dropped from $2,325 to $1,818. During this drop, the ETH flipped the 20-day and 200-day SMAs from support to resistance. Along with this, Ethereum reversed the parabolic SAR from positive to negative.
Ethereum Price Charts Bearish Sign
Looking at the Ethereum Price, we can see that ETH is dropping towards the $1,800 support line. The MACD shows sustained bearish market momentum, while the 200-day SMA has crossed over the 20-day SMA to chart a bearish cross.
Image: ETH/USD daily
Looking at IntoTheBlock’s IOMAP, the Ethereum price faces crucial support at $1,800. Previously, at this level, over 750,000 addresses had purchased almost 1.8 million ETH tokens.
Ethereum Co-Founder Is Quitting Crypto – Here’s Why
Anthony Di Iorio, a co-founder of Ethereum and crypto entrepreneur, recently said that he’s quitting crypto. As per a report from Bloomberg, Di Iorio said that he’s leaving crypto behind, partially due to “safety concerns.”
Di Iorio is the CEO and co-founder of Decentral, which created Jaxx, one of the most popular crypto wallets in the world. Di Iorio said that he plans to sell the company in the coming weeks for fiat currency and does not want to focus on more crypto-related projects.
As a venture capitalist, Di Iorio noted he would no longer fund blockchain-related companies. Instead, he plans to focus on philanthropy and other ventures.
“It’s got a risk profile that I am not too enthused about. I don’t feel necessarily safe in this space. If I was focused on larger problems, I think I’d be safer.”
According to Bloomberg, Di Iorio is now involved in Project Arrow, headed by his high-school friend. The project is trying to build a zero-emission vehicle. Di Iorio is also consulting a senator from Paraguay, but he revealed no details on that matter.
“I want to diversify to not being a crypto guy, but being a guy tackling complex problems. I will incorporate crypto when needed, but a lot of times, it’s not. It’s really a small percentage of what the world needs.”
Di Iorio’s statements came following a recent viral tweetstorm from Dogecoin co-creator Jackson Palmer denouncing the crypto industry and said that he has no plans to return to the nascent space.
Ethereum Price Is Expected To Reach These Levels
The Ethereum price will probably break below the $1,800 support line and reach the $1,600 support wall.