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3 reasons why Ethereum price can drop below $3K by the end of 2021

Published 12/12/2021, 12:23 PM
Updated 12/13/2021, 02:00 PM
ETH/USD
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Ethereum’s native token, Ether (ETH), reached an all-time high around $4,867 earlier in November, only to plunge by nearly 20% a month later on rising profit-taking sentiment.

And now, as ETH’s price holds $4,000 as a key support level, risks of further selloffs are emerging in the form of multiple technical and fundamental indicators.

ETH/USD weekly price chart featuring rising wedge. Source: TradingView
ETH/USD weekly price chart featuring divergence between price and RSI. Source: TradingView

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