🔥 ETH Struggles Amid Market Pressure
Bitcoin recovered above $86,000, but Ethereum remains under bearish control. After failing to break $2,772, ETH plunged over 17% to trade near $2,300. Asian markets provided some buying support, but with the US market opening, selling pressure is increasing.
📉 Death Cross Incoming: More Downside Ahead?
ETH is approaching a ‘Death Cross’, a bearish signal that previously led to a 20% drop in August 2024. If support between $2,301-$2,336 fails, ETH could plunge to $1,822.
⚠️ Can ETH Avoid a Drop Below $2000?
Support at $2,294 and $1,930 may provide temporary relief, but if ETH breaks $2,000, further downside is likely. The MACD remains in bearish territory, suggesting a prolonged downtrend or brief consolidation before another move.
🔮 What’s Next for Ethereum?
Unless ETH sees strong buying pressure, the bearish trend may persist, potentially dragging the price below $2,000 in the coming days.
⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
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