today ethereum is down more than 15%. I wonder why this happened. is it possible because of the high cost of GAS? or for some other reason. I didn't find any news that caused the situation to turn out badly like this. this happened suddenly, is it safe, Will ethereum go back to $400?
The price of Eth was reduced with so many reasons.With your all knowledge ,GAS fee was a known factor.So the market driven ETH had a impact on traders.Some get panic with the small variation in the price.Some will not even think about it.Just hold their money for the final pump with a period of one or two year.
As I see the situation, the rate will stay less flexible than it was in 2018-2019. I suppose, ETH will be traded within 350-420 USD. Since September, the ETH rate has been consolidating in this range (approximately), and until the price breaks out in one direction or another, the cryptocurrency will continue to trade without a clearly defined trend.