Ethereum descend to below $4,000, What are the possibilities?

The Ethereum descend started when Bitcoin headed below $66,000 on November 16, 2021. Where can head now? Let’s take look.

The Ethereum price today is $4,205.63 USD with a 24-hour trading volume of $18,313,915,268 USD. Ethereum is down 3.70% in the last 24 hours,  with a live market cap of $498,139,512,378 USD. It has a circulating supply of 118,445,951 ETH coins.

Ethereum descends
Source: TradingView

Ethereum descends: Analysis

Ethereum once tested the level below $4,000 on November 18, 2021, and was stopped by the support level of October 16, 2021. It started gaining volumes temporarily after the testing level however, Ethereum is headed again to retest the support and might break below to fib 1.414 and start rising again from the lower major trend line.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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