Ethereum ($ETH) Crypto Forecast: Down 5.2% Today

What is Ethereum?

Ethereum (ETH) is a prominent cryptocurrency token known for its smart contract functionality and decentralized applications. The overall cryptocurrency market has been volatile, with investors closely monitoring various factors influencing digital assets.

Why is Ethereum going down?

ETH crypto is down 5.2% on Nov 1, 2024 9:06

• The bearish movement in ETH today could be attributed to the grim price prediction by trading legend Peter Brandt, causing uncertainty and selling pressure in the market.
• The news of significant crypto liquidations, with Bitcoin and Ethereum leading the losses, might have triggered a broader market sell-off, including ETH.
• Despite the negative sentiment, the potential optimism shown in Ethereum futures with positive funding rates could hint at a possible future breakout, offering a glimmer of hope for ETH investors.
• The SEC's Wells Notice concerning Immutable's IMX token may have raised regulatory concerns in the overall crypto space, impacting investor confidence and leading to the bearish trend in ETH.

ETH Price Chart

ETH Technical Analysis

ETH News

Can XRP Surpass Bitcoin Soon? Former Ripple Executive Says ‘Yes’

Can XRP Surpass Bitcoin Soon? Former Ripple Executive Says ‘Yes’

https://coinpedia.org/news/can-xrp-surpass-bitcoin-soon-former-ripple-executive-says-yes/

Trading Legend Peter Brandt Issues Grim 38% Crash Ethereum Price Prediction

Trading Legend Peter Brandt Issues Grim 38% Crash Ethereum Price Prediction

https://u.today/trading-legend-peter-brandt-issues-grim-38-crash-ethereum-price-prediction

Is Immutable’s IMX Token Doomed? SEC’s Wells Notice Spells Trouble!

Is Immutable’s IMX Token Doomed? SEC’s Wells Notice Spells Trouble!

https://coinpedia.org/news/is-immutables-imx-token-doomed-secs-wells-notice-spells-trouble/

Ethereum Futures Show Signs of Optimism: Will Positive Funding Rates Drive a Breakout?

Ethereum Futures Show Signs of Optimism: Will Positive Funding Rates Drive a Breakout?

https://www.newsbtc.com/news/ethereum/ethereum-futures-show-signs-of-optimism-will-positive-funding-rates-drive-a-breakout/

Crypto Liquidation Hits $277M: Bitcoin and Ethereum Lead the Losses

Crypto Liquidation Hits $277M: Bitcoin and Ethereum Lead the Losses

https://coinpedia.org/news/crypto-liquidation-hits-277m-bitcoin-and-ethereum-lead-the-losses/

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Ethereum Price History

31.09.2024 - ETH Crypto was down 5.2%

• Despite positive forecasts indicating a potential price rally to $3,000, Ethereum faced a notable bearish movement, dropping over 5% within a day.
• Franklin Templeton's Money Market Fund expansion to Coinbase's Ethereum Layer-2 Base might have sparked optimism initially but was insufficient to halt the bearish trend.
• The recovery of most Ethereum Total Value Locked (TVL) outflows and an analyst suggesting a price target of $18,000 were overshadowed by broader market sentiment, contributing to the observed bearish movement.
• The market's reaction suggests that external factors or overall market conditions likely played a more significant role than positive news and forecasts for Ethereum, leading to the observed bearish movement.

01.10.2024 - ETH Crypto was down 5.2%

• ETH and major altcoins tumbled as BTC fell to $69K, indicating a broad market decline in the crypto space.
• Despite the overall bearish sentiment, XRP stood firm amid Bitcoin's dip, showcasing relative strength in the face of market pressure.
• The Ethereum price took a hit, prompting questions about its ability to recover in the near future.
• The announcement of Coinbase unveiling $25M for political donations coincided with the market suffering its worst day in over two years, potentially adding to the negative sentiment surrounding cryptocurrencies like ETH.

31.09.2024 - ETH Crypto was down 5.2%

• The bearish movement in ETH today could be attributed to the overall market sentiment in the cryptocurrency space, as investors may be taking profits or adjusting their positions.
• The completion of 12 weeks of bottom formation for Ethereum might have led to some traders selling off their positions, causing a short-term dip in the price.
• The threat of a lawsuit from the SEC towards Ethereum gaming firm Immutable over IMX token sales could have added regulatory uncertainty to the ETH market, impacting investor confidence and leading to the bearish movement.

31.09.2024 - ETH Crypto was down 5.3%

• The bearish movement in ETH today could be attributed to the threat of a lawsuit against Ethereum gaming firm Immutable over IMX token sales, causing uncertainty and negative sentiment in the market.
• Despite an analyst claiming that Ethereum is not dying and that Bitcoin's surge is not a threat to Ether, the overall market sentiment may have been impacted by regulatory concerns and legal threats.
• The news of Reddit offloading the majority of its Bitcoin holdings may have also contributed to a general sense of caution and risk-off sentiment in the cryptocurrency market, affecting the price of ETH negatively.
• The announcement of Coinbase listing NEIRO perpetual futures with a potential price rally may have diverted some attention and investment away from Ethereum, leading to a bearish movement in its price.

01.10.2024 - ETH Crypto was down 5.1%

• The bearish movement in ETH today could be attributed to the $2.2 billion Bitcoin and Ethereum options expiring, causing uncertainty and potential selling pressure in the market.
• The news of BlackRock's Bitcoin ETF reaching 2% of the total BTC supply may have diverted some attention and funds away from Ethereum, impacting its price negatively.
• Additionally, the whale selling LDO at a significant loss after a 3-year hold might have created a sense of unease among investors, leading to a bearish sentiment towards Ethereum.
• The decrease in inflows for the Bitcoin Spot ETF could indicate a shift in investor preferences towards Bitcoin rather than alternative cryptocurrencies like Ethereum, contributing to the downward pressure on ETH's price.

01.10.2024 - ETH Crypto was down 5.2%

• ETH experienced a strong bearish movement likely due to the overall market sentiment and Bitcoin's decline.
• Bitcoin's spot ETF inflows dropping to a weekly low may have contributed to the negative market sentiment, affecting ETH as well.
• The approach of key support levels for both Bitcoin and Ethereum could have triggered selling pressure and further declines in ETH's price.
• While XRP showed strength amid Bitcoin's dip, ETH and other major altcoins tumbled, indicating a broader market trend rather than isolated movements.

01.10.2024 - ETH Crypto was down 5.3%

• A noteworthy movement in ETH today could be linked to a whale selling LDO at a significant loss after holding for three years, indicating a lack of confidence in the market.
• The decrease in Bitcoin Spot ETF inflows, alongside the drop in overall inflows to a weekly low, could have influenced a broader sentiment of caution among cryptocurrency investors, impacting ETH negatively.
• The adjustment made by World Liberty Financial, cutting its presale goals by 90%, might have contributed to the overall market uncertainty, leading investors to retreat from riskier assets like ETH.
• Technical analysis hints at BTC and ETH nearing critical support levels, with the potential for further declines, likely prompting traders to divest their ETH holdings and contributing to the bearish trend.

01.10.2024 - ETH Crypto was down 5.6%

• The liquidation of $277M in the crypto market, with Bitcoin and Ethereum leading the losses, likely contributed to the bearish movement of ETH.
• The prediction by a veteran trader of a potential crash in Ethereum's price to $1550 might have added to the selling pressure and bearish sentiment surrounding ETH.
• Despite the negative speculations surrounding Ethereum, the positive forecast for Bitcoin reaching a six-figure price by December could be diverting investor attention and funds away from altcoins like ETH.
• The focus on blockchain scaling solutions underscores the importance of scalability for the long-term viability and adoption of cryptocurrencies like ETH.

01.10.2024 - ETH Crypto was down 5.7%

• The bearish movement of ETH today could be attributed to the overall negative sentiment in the market, resulting in a broader sell-off in cryptocurrencies following a challenging day for stocks.
• Despite Ethereum's active addresses topping the charts, the failure to surpass the $2800 mark might have disappointed investors, triggering profit-taking and contributing to the bearish trend.
• Breakthrough research on Ethereum blobs being "insanely bullish" for ETH price could have initially sparked optimism, but the lack of immediate price reaction might have led to some market participants losing interest and selling off their positions.
• The positive news surrounding Solana (SOL) smashing a golden cross and overtaking Ethereum in sUSD deposits could have diverted attention and investment flows away from Ethereum, impacting its price negatively.

01.10.2024 - ETH Crypto was down 5.0%

• ETH experienced a bearish movement today, possibly influenced by the strong performance and increasing dominance of another cryptocurrency.
• The surge in Total Value Locked (TVL) and significant inflows from Ethereum may have shifted investor focus towards this other cryptocurrency, leading to a sell-off in ETH.
• Comparisons between the two cryptocurrencies, as well as bullish predictions for Bitcoin and gold, could have diverted attention and investments away from ETH, contributing to its bearish movement.
• As the cryptocurrency market evolves and new narratives emerge, investors are closely monitoring developments in different tokens, potentially impacting the performance of established cryptocurrencies like Ethereum.

01.10.2024 - ETH Crypto was down 5.2%

• The bearish movement in ETH today could be attributed to the grim price prediction by trading legend Peter Brandt, causing uncertainty and selling pressure in the market.
• The news of significant crypto liquidations, with Bitcoin and Ethereum leading the losses, might have triggered a broader market sell-off, including ETH.
• Despite the negative sentiment, the potential optimism shown in Ethereum futures with positive funding rates could hint at a possible future breakout, offering a glimmer of hope for ETH investors.
• The SEC's Wells Notice concerning Immutable's IMX token may have raised regulatory concerns in the overall crypto space, impacting investor confidence and leading to the bearish trend in ETH.

31.09.2024 - ETH Crypto was down 5.7%

• Today's downward trend in ETH's value may be linked to the prevailing negative market sentiment.
• The decision by Reddit to sell off a significant portion of its Bitcoin holdings could have impacted market confidence, resulting in a broader cryptocurrency selloff, including ETH.
• Analyst Benjamin Cowen's pessimistic perspective on Ethereum in comparison to Bitcoin could have intensified the selling pressure on ETH, prompting investors to reassess their positions.
• The introduction of Fetch.ai and ASI by Injective (INJ) may have attracted some focus and investment away from Ethereum, influencing its decline in price.