YEREVAN (CoinChapter.com) – Ethereum token Ether (ETH) traded at $1,345 in the New York session on Sep 20, after a choppy weekly performance and a 3% value loss in 24 hours. Apparently, the destroyed expectations after the Merge gave some ETH investors psychotic episodes, judging by the tweets.
As “crypto sh*t” goes about ruining people’s marriages, the above tweet worthy of Meryl Streep was duplicated across the Twitterverse. Soon the post-Merge low ETH returns were blamed for personal drama left and right, like the unfortunate copy-paste tweet below.
Some users even took the fake drama seriously, pointing out the mental strength crypto traders should apparently possess.
Lol now I understand when someone’s says u can’t handle 80 percent drop why should I deserve the 100 percent gain… most people are down and most huge retailers sold at a loss… money will come back be patient stay positive…
read one of the replies.
Meanwhile, Ethereum could cause some more drama in the upcoming sessions.
Ethereum (ETH) could be headed below $1K
As CoinChapter reported earlier, technical indicators spell another 20% drop ahead for the digital asset. In detail, ETH/USD chart formed a bullish setup named ‘falling wedge,’ best visible on the daily time frame.
The formation entails two converging trendlines that significantly drop the price before giving it a bullish boost. Moreover, the expected upside move could equal the maximal height of the wedge. In the case of ETH, the target price would stand at over $4,000.
However, the Ethereum token has not confirmed the setup yet and still fluctuated within the trendlines.
Thus, traders could expect ETH to drop at least another 20% to retest the support close to $1,000 possibly. Moreover, a full drop to the wedge’s lower trendline would bring ETH to $400, a 70% decline from the current price.
Also read: Ethereum (ETH) Price Could Stage Fresh Rally if It’s Able to Hold One Crucial Level
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