Etherum Market Uniki through historical hunts as use should ETH priced by farce up to $ 1,100

Eter’s (El) The market is very close to the blow to all weather burnts as a classic bear graph, a deeper correction at $ 1,100.

Etherum’s Market Dominance continues to fall

9. April, Domination of Etherum, or Ether’s Measure of CRIPT’s total market capitalization, hit a new perennial of 7.18% COINTELEGRAPH MARKETS PRO and Data Tradingview.

This value was just hair width above all the time low 7.09% reached September 2019. Years.

“The dominance of Etherem is so close to registering new all weather lons,” said the popular CRIPTO capital Analyst at 13. April Post on X, adding:

“The dominance of Etherem must hold this green area to position himself to become more market dominant in the coming months.”

Ether market share is now at the lowest value since 2019-2020. Meanwhile, Ether is the closest competitor in terms of market capitalization, KSRP (XRP), she saw that her dominance grow for over 200% during the same time frame.

Its top layer-1 rival tokens, BNB chain (Bnb) and Solanes (Salt) They also saw that 40% and 344% increase their market domination from 2023. years.

Several reasons for these brains They include a weak institutional demand that showed the negative ETF current, horns market for derivatives and increasing competition from other blocks.

More problems for Etherum could also be found when analyzed Total locked value (TVL) competitive blocks.

Although Etréem remains a leading market of 51.7%, this metric in February 2024. year reduced from 61.2%, compared, Solana has risen 172% in the same period.

Eth Prices “Bear Flag” Goals $ 1,100

The etheric price or ETI / USD is expected to continue its predominant bear momentum despite return from recent orders as a classic (bear) chart form.

Related: Etherum could be a and a key to decentralization says former Core dev

Ether’s action price in the last three weeks of the image is possible Sample Medveda Zastava on the daily list, as shown in the picture below. The day candle near the lower lower boundary of the flag to $ 1,600 would signalize the start of mass shifting down.

The height of the flag is set, putting a potential target price of $ 1,100 or 33% drop from the current price.

Meanwhile, one key indicator to look out remains a relative index of power, or RSIwhich is still below 50 marks, suggests that the market trend still favors the decline.

As cointelegraph exportThe price of ETE can eventually from below to about $ 1,000 based on several other factors.

This article does not contain investment advice or recommendations. Any investment and trade of trading involves risk, and readers should conduct their own research when making a decision.