Este Artículo También Está Disponible and Español.
Ethereum experienced a sharp fall yesterday when the wider cryptocurrency market tumbled. The ETH prices fell more than 9%in just a few hours, so that the trust of investors was shaken and concerned about a possible deeper correction. The sudden decline has fueled fear in the American markets, which contributes to the uncertainty that the crypto space grabbed this Monday morning.
Related lecture
Top Crypto analyst Carl Runefelt shared a technical analysis of X, which made the light thrown into the precarious position of Ethereum. According to Runefelt, Ethereum can test the support level of $ 2,800 if the market continues its downward process today. This key level could serve as a critical moment for ETH, because losing can lead to further falls and increased sales pressure.
Market sentiment has taken a hit, in which many investors deleted in the coming days for increased volatility. Analysts follow macro -economic indicators and wider market movements closely a close eye to measuring the potential impact on the Ethereum price action. While ETH is floating around crucial support zones, the next 24 to 48 hours will be crucial to determine whether the cryptocurrency can regain recovery or get a deeper correction. Investors are encouraged to come carefully while the market navigates this volatile phase.
Ethereum is confronted with intense sales pressure
Ethereum has been under significant sales pressure since the end of December and reflects the increased volatility that the wider cryptocurrency market has grip. Analysts and investors are always bearish, with sentiment that suggests that ETH can continue to fall in the coming days. This challenging phase has expressed concern about the short -term prospects, so that many market participants are informed.
Top Crypto analyst Carl Runefelt shared his technical analysis on XEmphasizing a critical level of support for Ethereum. Runefelt predicts that ETH could reach the support level of $ 2,800 if the current marketing persists. This key level can be a strong basis for a potential recovery or further weakness as a broken signal.
Despite the bearish sentiment, some investors and traders see this potential decrease as an opportunity. Ethereum remains one of the most prominent cryptocurrencies, and many believe that it is still ready for considerable profit this cycle. A correction for $ 2,800 could offer an attractive access point for those who have faith in the Fundamentals and the long -term growth potential of Ethereum.
Related lecture
While the market continues to navigate due to this uncertain period, all eyes are focused on the price action of Ethereum. Whether it is with critical support or collapses for extra sales pressure, will play a crucial role in shaping the process in the coming weeks.
Price applies to critical support
Ethereum (ETH) is currently being traded at $ 3,050 and maintains a position just above the 200-day advancing average, which is $ 2,988. The 200-day advancing average is generally considered as a long-term indicator of strength, and retaining above this level can indicate a possible reversal of the current downtrend.
The market keeps a close eye on to see if Ethereum can retain this critical support, because this can mark the start of a recovery phase. Analysts emphasize that staying over the 200-day advancing average is essential for building bullish momentum and restoring the trust of investors in the short term.
However, support is only the first step. In order to confirm a trend removal and to establish a stronger bullish look, Ethereum must regain the resistance level of $ 3,300. This would indicate that buyers have regained control, so that the road may have cleared the road for further upwards.
Related lecture
On the other hand, losing the level of $ 2,988 can lead to an increased sales pressure, with the possibility of testing ETH tests lower support levels. While the market navigates this crucial moment, in the coming days will be crucial to determine whether Ethereum can retain its current levels and make a push in the direction of recovering higher soil. For now, traders and investors remain carefully optimistic.
Featured image of Dall-E, graph of TradingView
