Ethereum’s bearish wave ‘is already happening,’ says expert
Since October, the crypto market has been enjoying a mostly decisive uptrend, with multiple cryptocurrencies reaching highs not seen since early 2022. Ethereum (ETH), one of the world’s most prominent digital assets, rose above $2,300 during this time. Things, however, took an unexpected turn in the night between December 10 and 11 when liquidations totaling approximately $300 million sent multiple cryptocurrencies rapidly dropping. Bitcoin (BTC) fell from more than $44,000 to below $42,000, and Ethereum declined from about $2,350 to about $2,250. Unlike Bitcoin, which somewhat stabilized, ETH continued its decline, and crypto trader and analyst AlanSantana posted his assessment and the accompanying chart on TradingView , stating that for Ethereum, “the bearish wave is only now starting, but it is already happening .” ETH price chart analysis. Source: TradingView and AlanSantana ETH is in a strong downtrend as sell volume surges In his breakdown of the current state of Ethereum,...