Ethereum’s (ETH) Potential Hurdle: Weakness Could Cap Price Under $3,100
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- Ethereum’s underperformance is restricting money flow in the market, potentially driving its price down to $2,600.
- Old coins are moving, indicating that selling pressure might continue.
- A report by 10x Research suggests that Ethereum’s weak fundamentals are becoming a roadblock for Bitcoin as they prevent broad fiat inflow into the crypto ecosystem.
Ethereum’s underperformance could lead to a price drop, while its correlation with Bitcoin may be hindering the latter’s growth, according to a recent report by 10x Research.
Ethereum’s Underperformance and Its Impact
Ethereum [ETH] is struggling to replicate its performance in the last bull market, according to a recent report by 10x Research. The report suggests that Ethereum’s weakened fundamentals are preventing money from flowing into the market at a faster rate. Ethereum was a significant driver of the 2020/2021 bull cycle, but its current lagging performance is restricting the market from reaching its full potential.
