- Ethereum price drops to $1,100 and triggers extreme oversold RSI levels.
- Bitcoin price has crashed 15% since breaching a shorter bear flag pattern.
- Ripple price sheds 16% as it breaks out of a bearish pennant, forecasting a $0.221 target.
UPDATE: Ethereum price prediction continues to be a high-risk activity as the second-biggest cryptocurrency continues to fall. ETH price dropped to $1,100 during the Asian trading session on Tuesday and has since bounced back to levels around $1,200 in the European session. The fast pace at which Ethereum price was dropping during the weekend and Monday on a mixture of market-wide risk-off moves and intrinsic issues tide to the problems with Celsius and the Staked Ethereum (stETH) de-peg seems to have faded a bit. In the current crypto market bloodbath, pointing at an alternative scenario is a very risky proposition, but having stated that, a bullish retracement on ETH could be due in the near term as the Relative Strength Index is at oversold levels not seen since 2019, when the main altcoin traded at $120. According to Tony Montpeirous, crypto analyst at FXStreet, ETH price would need to breach $1,570 for bulls to come back with some confidence.
GM
Just took a look at the $ETH chart… pic.twitter.com/l1qzWtOnR2
— Charlie (@btc_charlie) June 12, 2022