According to LUNC’s signs, now could be a good time to purchase. Its relative strength gauge (purple) has risen from slightly below 50 to 70 in the last few hours, showing very strong buying momentum.
LUNC’s 30-day moving average (red) has begun to rise towards its 200-day moving average, which is promising (blue). The fact that it is still lower than the longer-term average may suggest that there is still time for this increase to continue until it loses steam.
Because of this decline, the overall market worth of Bitcoin has decreased from $430.9 billion to around $22 billion.
ETH Price Prediction
The ongoing fallout from Silvergate Bank may be to blame for the sharp drop in BTC’s worth, as it has made the currency on-and-off ramp more hazy.
The US government is also trying to break more financial ties between cryptocurrency businesses and FDIC-insured institutions, which is considered to be a significant contributor to Bitcoin’s decline in value.
The fall in BTC values was also helped by growing concern about interest rate hikes.
Today’s Ethereum Price
A string of positive US economic data has caused the value of cryptocurrencies to fall globally, implying that the Federal Reserve may need to increase interest rates further and for a longer period of time.
As a consequence, the cryptocurrency marketplaces have turned red, causing the price of BTC to fall.
If this limit is breached, ETH could fall below $1,500. Nonetheless, substantial opposition exists at or near $1,620.