Ethereum ($ETH) Crypto Forecast: Down 5.1% Today

What is Ethereum?

Ethereum (ETH) is a popular cryptocurrency token known for its smart contract functionality and decentralized applications.

Why is Ethereum going down?

ETH crypto is down 5.1% on Dec 11, 2024 1:57

• The bearish movement in ETH today could be attributed to a significant amount of ETH being sold on a decentralized exchange, possibly indicating a lack of confidence in the market by the Ethereum Foundation.
• The overall market sentiment for Ethereum may have been influenced by de-risking behaviors of investors amidst geopolitical tensions such as Israel's attack on the Syrian navy, resulting in a decline in ETH price.
• Despite the bearish trend, Ethereum bulls are facing a decision as ETH drops below $3.8K, highlighting a critical point where investors need to carefully assess their positions and market conditions.

ETH Price Chart

ETH Technical Analysis

ETH News

Ethereum Battles Bearish Retail Sentiment Amid Surging ETF Demand

Ethereum Battles Bearish Retail Sentiment Amid Surging ETF Demand

https://www.newsbtc.com/news/ethereum/ethereum-battles-bearish-retail-sentiment-amid-surging-etf-demand/

Bitwise Predicts Bitcoin at $200,000 and Major Gains for Crypto Stocks in 2025

Bitwise Predicts Bitcoin at $200,000 and Major Gains for Crypto Stocks in 2025

https://beincrypto.com/bitwise-predicts-bitcoin-200k-crypto-market-2025/

Top Signal? Ethereum Foundation Sells $374,000 ETH on Decentralized Exchange

Top Signal? Ethereum Foundation Sells $374,000 ETH on Decentralized Exchange

https://www.cryptoglobe.com/latest/2024/12/top-signal-ethereum-foundation-sells-374000-eth-on-decentralized-exchange/

Ethereum Price Forecast: ETH declines in light of Israeli attack, increased accumulation could fuel recovery

Ethereum (ETH) is down nearly 1% on Tuesday as the recent market drawdown is potentially due to investors de-risking following Israel's attack on the Syrian navy.

https://www.fxstreet.com/cryptocurrencies/news/ethereum-price-forecast-eth-declines-in-light-of-israeli-attack-increased-accumulation-could-fuel-recovery-202412102205

Ethereum bulls have a decision to make as ETH drops below $3.8K

Ethereum bulls have a decision to make as ETH drops below $3.8K

https://ambcrypto.com/ethereum-bulls-have-a-decision-to-make-as-eth-drops-below-3-8k/

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Ethereum Price History

10.11.2024 - ETH Crypto was down 6.2%

• ETH faced a bearish movement possibly due to the negative sentiment prevailing in the cryptocurrency market, with BTC dropping below $95K and altcoins experiencing a downturn.
• The authorization of Crypto ETFs in Argentina could have shifted investor focus from ETH, leading to a decline in its price.
• The strong performance of Pudgy Penguins NFT prices in contrast to other NFTs might have influenced investors to move their funds away from ETH, impacting its bearish trend.
• The attention on XRP approaching a critical threshold of $2 might have caused a diversion of market interest from ETH, contributing to its downward trajectory.

10.11.2024 - ETH Crypto was down 6.8%

• ETH faced a strong bearish movement likely due to the broader cryptocurrency market downturn, as Bitcoin fell below $95,000 and altcoins crashed.
• The approval of Crypto ETFs in Argentina may have had a limited impact on ETH's price compared to the overall market sentiment.
• The pressure on Ethereum's price and the high funding rates indicate that investors may be cautious about a potential correction in the near future, contributing to the bearish trend.
• The significant liquidation of leveraged positions in the crypto market, including Ethereum, added selling pressure and led to the plunge in prices towards $94,000 for Bitcoin.

10.11.2024 - ETH Crypto was down 6.0%

• The bearish movement in ETH today could be attributed to profit-taking by traders after a period of bullish momentum.
• The surge in USDT adoption, outpacing Bitcoin and nearing Ethereum in wallet count, may have shifted some investor focus towards stablecoins, leading to a temporary sell-off in ETH.
• Speculative discussions predicting a significant price increase for Ethereum, such as reaching $15,000, might have created unrealistic expectations, causing a market correction.
• The overall sentiment in the market, including bullish predictions for other cryptocurrencies like Dogecoin, could have diverted attention and capital away from Ethereum, contributing to its bearish movement.

10.11.2024 - ETH Crypto was down 6.3%

• Despite optimistic forecasts and signals in the crypto space, Ethereum saw a downward trend today.
• The increase in Ethereum funding rates reflecting positive sentiment might have prompted investors to take profits, resulting in a temporary price drop.
• The announcement of Flashbots' transition to decentralized block production software could have created uncertainty or technical hurdles impacting Ethereum's value.
• Market players might have responded to the general market mood, triggering a sell-off in Ethereum despite favorable signals from other cryptocurrencies.

10.11.2024 - ETH Crypto was down 7.4%

• A large transfer of $119 million in Ethereum by Justin Sun might have triggered worries of a potential sell-off, prompting a surge in selling pressure on ETH.
• Despite strong demand for Ethereum, it may not have been sufficient to counteract the prevailing negative sentiment, resulting in a further decrease in price.
• The challenges faced around the $4,000 mark notwithstanding, the accumulation of Ethereum by major holders could reflect enduring belief in the token, potentially signaling a turnaround in the future.
• Bitcoin's stabilization at the $93k level could have shifted investor focus away from Ethereum, contributing to its downward trajectory.

10.11.2024 - ETH Crypto was down 5.1%

• The bearish movement in ETH today could be attributed to comments by an Ethereum developer concerning Max Resnick's transition to Solana, potentially sparking concerns among investors about talent shifts affecting Ethereum's development and competitiveness.
• Additionally, information about the Wyoming Stablecoin Committee looking for talent for Project WYST might have diverted attention and investment away from Ethereum, leading to selling pressure on the token.
• Insights shared by Naval Ravikant on cryptocurrency roles may have also influenced market sentiment, prompting some traders to reassess their positions in different digital assets, including ETH.
• Overall, a combination of these factors, along with broader market conditions and profit-taking behavior, likely contributed to the bearish movement in Ethereum today.

10.11.2024 - ETH Crypto was down 5.3%

• The bearish movement in ETH today can be attributed to the overall crypto market crash, with leveraged positions being wiped out and Bitcoin plunging towards $94,000.
• The high funding rates for Ethereum indicate a potential correction on the horizon, which might have led to profit-taking and selling pressure on ETH.
• The news of Bitcoin and Ethereum ETFs adding billions amid a record week did not seem to positively impact ETH today, suggesting that the market sentiment was driven more by the crash in leveraged positions.
• The anticipation of an altcoin season being closer than expected could have also influenced traders to shift their focus away from Ethereum temporarily, contributing to the bearish movement.

10.11.2024 - ETH Crypto was down 5.1%

• The bearish movement in ETH today could be attributed to the Ethereum Foundation selling off a significant amount of ETH for Dai, potentially causing downward pressure on the token's price.
• Record losses in the crypto market, with traders liquidating over $1.7B in 24 hours, likely added to the overall negative sentiment and contributed to the bearish movement of ETH.
• The introduction of a multi-crypto debit card supporting 8 blockchain networks may have diverted some attention and investment away from ETH, impacting its price negatively.
• Speculation about more selloffs incoming from the Ethereum Foundation could have further fueled selling pressure on ETH, leading to its bearish movement today.

10.11.2024 - ETH Crypto was down 7.9%

• ETH faced a bearish trend despite strong demand, suggesting a short-term decline in its value.
• The movement of $119 million in Ethereum by Justin Sun likely added selling pressure to the token.
• Solana's underperformance compared to ETH and XRP potentially shifted focus away from ETH, affecting its market performance.
• The uncertainty surrounding the point at which ETH may reverse its trend raises concerns about investor sentiment and the current downtrend.

10.11.2024 - ETH Crypto was down 5.1%

• The bearish movement in ETH today could be attributed to the overall market sentiment following a recent crypto market crash.
• The focus on other altcoins for potential gains might have diverted attention away from ETH, leading to a sell-off.
• The introduction of a multi-crypto debit card supporting various blockchain networks by Floki developers may have shifted investor interest towards other cryptocurrencies, impacting ETH negatively.
• The surge in MOVE token price and the airdrop frenzy could have drawn traders away from ETH, causing a decline in its value amidst the overall market turbulence.

11.11.2024 - ETH Crypto was down 5.1%

• The bearish movement in ETH today could be attributed to a significant amount of ETH being sold on a decentralized exchange, possibly indicating a lack of confidence in the market by the Ethereum Foundation.
• The overall market sentiment for Ethereum may have been influenced by de-risking behaviors of investors amidst geopolitical tensions such as Israel's attack on the Syrian navy, resulting in a decline in ETH price.
• Despite the bearish trend, Ethereum bulls are facing a decision as ETH drops below $3.8K, highlighting a critical point where investors need to carefully assess their positions and market conditions.

10.11.2024 - ETH Crypto was down 5.9%

• Ethereum's bearish movement today could be attributed to profit-taking by investors after a period of strong growth.
• The comparison with Bitcoin in terms of weekly growth might have set high expectations for Ethereum, leading to a sell-off when these targets were not met.
• The struggles of Solana in comparison to ETH could have shifted investor focus towards Ethereum, causing a temporary dip in Solana's price.
• The introduction of a new native token by L2 Network FUEL might have diverted some attention away from Ethereum, impacting its price negatively in the short term.