Ethereum's growth appears to be slowing after posting record gains this November.
It soared more than six times this year, even outperforming Bitcoin's growth by 127%, thanks to speculative enthusiasm for digital assets. The recent upgrade in its network and popularity from DeFi also increased demand for Ether.
But on Monday it went down $ 160 from $ 4,866.
Vijay Ayyar said Ethereum consolidated over the past few days and is optimistic in the long term. He believes that Ether and the Altcoin market will move faster than Bitcoin.
In addition, technical analysis shows that the scope of the last ETH rally is almost the same as the surge from June to September, which subsequently ended. Some analysts see this symmetrical pattern as heralding a similar pullback.
Meanwhile, the TD Sequential study indicated that Ether is preparing for a rollback, and one of its key levels is $ 5,000. Breaking through this will provoke continued growth.
Cryptocurrencies posted some of the highest gains in the markets in 2021, but volatility remains a bone of contention as regulators are tightening their oversight.
