Ethereum Price Prediction as Standard Chartered Forecasts $8K Price By 2026 – Will Ether (ETH) Break Below This Key Support Level?

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By BitcoinWiki News

Key Takeaways:

– ETH/USD is trading flat around $1,550 after a sharp reversal from earlier highs in the $1,630s.
– ETH found strong resistance at its 21 and 50DMAs.
– Standard Chartered’s bullish research report failed to lift sentiment, predicting a rise to $8,000 by 2026.
– Standard Chartered believes Ethereum will dominate NFTs, DeFi, web3 gaming, and tokenization industries.
– Key long-term support for ETH is at $1,550.
– If ETH breaks below this support, it could drop by as much as 12% to the lows under $1,400.
– Macro headwinds, such as the Israel/Palestine war and US inflation fears, pose risks for ETH.
– Ether market conditions have been weak recently, with poor demand for Ether futures ETFs.
– A dip back to the $1,300s could present a buying opportunity for long-term bulls.
– Investors may want to consider diversifying their crypto holdings.
– One alternative strategy is participating in crypto presales, which have a history of delivering high returns to early investors.
– Cryptonews provides a list of 15 crypto presales deemed as the best in 2023.

Ether (ETH) is trading flat around $1,550 after a reversal from earlier session highs. The cryptocurrency is finding support above key long-term support at $1,550 despite resistance at its 21 and 50DMAs. A bullish research report from Standard Chartered predicting a rise to $8,000 by 2026 has not lifted sentiment. The report highlights Ethereum’s dominance in NFTs and DeFi, and predicts it will become the dominant blockchain for web3 gaming and tokenization industries by 2025-26. However, Ether is currently threatening to break key support at $1,550, which could lead to a drop back to March 2023 lows. Macro headwinds and weak market conditions for Ether contribute to the potential downside risks. Despite this, a dip back to the $1,300s could present a buying opportunity for long-term investors. Investors may also consider diversifying their crypto holdings and participating in crypto presales for potential gains. However, crypto investments are high-risk and require thorough research.

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