Ethereum Trades Below $3,000 Support, Why Is ETH Falling Since November?

Ethereum has been on quite the journey, from splitting to creating its market presence within a few years. And now, they are looking at saving electricity and other concerns put forth by analysts with their latest validation protocol. The cryptocurrency supports several blockchain networks through its layers-2 services and validations. With all these facts combined together, ETH could very well dethrone Bitcoin as the number 1 largest cryptocurrency network. Related Reading | TA: Ethereum Faces Key Challenge, Why Fresh Decline Still Possible Surprisingly, after all these achievements, one must wonder why Ethereum has been falling since November 2021 after hitting a new high. The reason is that the price is based on speculation about a protocol that will be launched in the future. Unfortunately, the actual date for the protocol has not been announced yet, so people are selling their ETH in anticipation of the lower price. With its current market capitalization, ETH is 10 times larger than Solana and close to 45% of BTC’s value. According to technical insights, there are strong supply and demand zones in the market because people want to buy things for less. FOMO (fear of missing out) has been a major driving force behind cryptocurrency prices. Ethereum Price Analysis ETH’s price trend has repeatedly beaten expectations, but because it is currently trading below the 200-day moving average (DMA) curve, there is a negat...