IN1.41%
ETH-3.82%
View Original
CHAITHUvip
🔹Ethereum price crash: Here’s why ETH is down today
🔸After nearly a month in the green, Ethereum price has come with the market’s second-largest cryptocurrency reversing sharply from its recent highs.
🔸The price of Ethereum has seen it slip approximately 5% over the past 24 hours, trading slightly under $4,255 at the time of writing per market . The day’s decline extends the downturn that commenced over the weekend, marking a 10.6% drop from its this month’s peak above $4,759.

🔸The drop in Ethereum’s price marks a strong reversal of its multi-day rally just last week, which lifted this month’s gains above 60%. But what’s driving the pullback?
🔹Why is Ethereum down?
🔸While the long-term outlook for ETH remains strong, near-term signals are mixed. From a technical perspective, ETH is holding just above the 20-day EMA at $4,134. If it fails to hold up this level, it could face further downside, with the next major support sitting at the 50-day EMA around $3,651.
🔸Further breakdown beyond that next support would mark a deeper correction, potentially erasing much of the recent rally’s gains.

🔸At the same time, momentum indicators are showing caution. The Relative Strength Index (RSI) has cooled to 58, down from overbought territory above 70 earlier this month. This suggests buyers are losing steam and the market is shifting toward a more neutral setup.

🔸To regain bullish traction, ETH would need to reclaim $4,500 to signal renewed strength, and a push beyond $4,750 to $4,800 remains the key hurdle before any attempt at fresh highs.
#TopContentChallenge#
repost-content-media
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)