Ethereum fell sharply yesterday due to a wider wider cryptocurrency market, and yesterday. ETH prices fell more than 9 % in just a few hours, shaking investors’ trust, causing concerns about potential fixes. Sudden recession caused fears in the US market as a whole, increasing the uncertainty of understanding the cipher space this Monday morning.
Crypto analyst Carl Runefelt shared technical analysis about X and shed light to Ethereum’s unstable position. According to RUNEFELT, EtherEum may test a 2,800 dollar support level if the market continues today’s downward orbit. This important level may function as an important time of ETH. This is because losing it can lead to further decreasing and increased sales pressure.
Market centements are hits, and many investors are supporting the improvement of volatility for the next few days. Analysts are carefully monitoring macroeconomic indicators and wider market movements to measure the potential impact on Ethereum’s price behavior. Since ETH floats around the important support zone, the next 24-48 hours are important in determining whether the cryptocurrency regains the amount of exercise or faces a deeper correction. As the market navigates on this unstable stage, investors are encouraged to step carefully.
Ethereum is facing intense sales pressure
Ethereum has been exposed to a major sales pressure since late December, reflecting the growing volatility that knows the wider cryptocurrency market. Analysts and investors are becoming more and more bearish, and emotions suggest that ETH may continue to decrease in the next few days. This challenging stage raises concerns about the short -term outlook on assets, and is dominant to many market participants.
Top Crypto Analyst CARL RUNEFELT emphasizes the important support level of Ethereum and shared technical analysis on X. RUNEFELT predicts that ETH may reach a 2,800 -dollar support level if the current market has continued. This important level may be a powerful foundation for potential recovery.
Despite the weak sentiment, some investors and traders consider this potential decline as an opportunity. Ethereum is still one of the most prominent cryptocurrencies, and many people are ready to greatly improve this cycle. Fixing $ 2,800 can provide attractive entry points to those who are confident in Ethereum’s long -term basics and growth potential.
As the market keeps navigating this uncertain period, all eyes are in the price of Ethereum. It will play an important role in forming a trajectory in the coming week, whether it keeps critical support or succumbing to additional sales pressure.
Price exceeds important support
Ethernereum (ETH) is currently trading for $ 3,050, maintaining a 200 -day moving average. This is $ 2,988. The 200 -day moving average is widely regarded as a long -term indicator of strength, and if this level is exceeded, it may show the potential reversal of the progress of the progress.
The market is carefully monitored to see if this important support can be maintained, as Ethereum can mark the beginning of the recovery stage. Analysts emphasize that exceeding the 200 -day moving average is essential for building bullish momentum and recovering investors’ trust in a short term.
However, holding support is only the first step. To confirm the reversal of the trend and establish a powerful bullish outlook, Ethereum needs to regain the $ 3,300 resistance level. This indicates that buyers can regain control and open up further ways.
On the other hand, losing a $ 2,988 level can lead to an increase in sales pressure because ETH may test a lower support level. As the market navigates this extremely important moment, it is important to determine whether Ethereum can maintain the current level and promote higher ground. For now, traders and investors remain careful and optimistic.
Special image of DALL-E, Chart of TradingView
