Ethereum Price Forecast: ETH/USD Supported At Double Bottom $1,750 0

Anthony Di Lorio Negative Comments Push Ethereum Below $1,750. Mike Tyson asked his 5.6 million Twitter followers whether they prefer Bitcoin or Ethereum. ETH gets support. Today’s idea is to put a sell limit at 1847.11 to target 1,719 and 1,640.

The ETH/USD closed at $1818.36 after a high of $1916.45 and a low of $1806.53. Ethereum followed the crypto market crash, falling to its lowest level since June 26 on Monday. It’s already under pressure from the latest announcement from one of its eight co-founders. He said he left the world of cryptocurrency. So the Ethereum price forecast remains bearish on Tuesday.

Anthony Di Lorio Negative Comments Push Ethereum Below $1,750

Anthony Di Lorio followed in the footsteps of Dogecoin co-founder Jackson Palmer and decided to leave the crypto industry. Palmer explained a few days ago that he would be leaving the industry for ethical reasons. The entire industry is powered by wealthy giants who have invented cryptos to get a free door from tax and regulation. Vechain VET price has risen.

At the same time, Di Lorio explained that he was leaving the industry more for reasons of personal safety. He also said he is retiring from his blockchain company Decentral. He went on to say that he did not feel safe in the crypto space and warned that cryptocurrency was not what the world needed many times. Coupled with the recent market crash due to risky market sentiment, these negative comments are dragging the ETH/USD downwards.

Mike Tyson’s tweet supports Ethereum at 1,750 level

Mike Tyson, a famous former American boxer, asked his 5.6 million Twitter followers whether they prefer Bitcoin or Ethereum. Tyson had recently signaled his interest in NFTs, making it clear that he plans to make some investments in the cryptocurrency space.

This month, Tyson announced that he is partnering with 1ofOne, the most efficient full-service creative agency in the NFT space. 1ofOne will be an NFT studio that will develop the first official series of Mike Tyson NFTs.

Tyson’s latest tweet managed to garner a heavyweight response, as MicroStrategy CEO Michael Saylor garnered the most popularity for his response. Saylor tweeted that he too spent a lot of time pondering this question. Surprisingly, however, he said he is in favor of BTC as he has bought $2.9 billion worth of BTC thinking that this will be the future of digital ownership.

This tweet from Saylor gained a lot of popularity and attention, which is why ETH/USD suffered more and extended the loss further downward. However, many other users were of the opinion that Bitcoin could not have proper use, leading them to choose ETH over BTC.

US Dollar Prints Second Most Important Cryptocurrency Ethereum

Rising US dollar prices put additional pressure on ETH/USD and accelerated the price decline. The US dollar is strong across the board due to its safe-haven status that has attracted attention amid the rising number of cases worldwide. The U.S. Dollar Index, which measures the dollar value against the basket of six major currencies, rose towards the 93.04 level, adding ETH/USD. Polygon MATIC price has risen.

Ethereum Price Forecast – Technical Outlook: BTC Aims at $28,650

Ethereum’s price prediction is strongly bearish as it has broken the symmetrical triangle pattern. On the 4-hour chart, we can see ETH/USD testing the 1.720 support level, and there is a slim chance of a bullish correction.

The leading technical tool, the Stochastic RSI, is holding steady at 8.16 in the oversold zone. This shows that the probability of a selling trend remains high. However, the bears can lead to profit taking before entering into more sales transactions. The breach of a symmetrical triangle pattern on the downside points to selling bias in the ETH/USD pair. Hence, traders are keeping their eyes on the 1.719 and 1.640 support levels.

The ETH/USD price forecast remains bearish today. Therefore, the forex trading participants can look for a sell limit on 1847.11 to target 1,719 and 1,640. All the best.