The price of Ethereum has fallen by 4% in the last 24 hours, raising concerns among investors. This article discusses the reasons for this decline and the possible scenarios for future price movements.
Why is Ethereum Going Down Today?
Ethereum has dropped to $1,572.69 due to the overall negative market trend. Indicators such as MACD and RSI suggest a downtrend, making the situation more alarming. Analysis shows that increased activity from large wallets engaging in unusual transactions, such as purchasing $PEPE tokens, is causing panic sales.
Weak Support Levels: Potential Drop to $1400
Ethereum's price is nearing a critical support level at $1,520. A drop below this level could lead to a sharp decrease down to $1,400. Currently, market instability indicates potential further drops unless a sharp stabilization occurs.
Ethereum Price Predictions: What's Next?
If selling continues, the price may drop to the $1,480–$1,520 range. If buyers step in and support builds at $1,520, ETH could rebound to the $1,620–$1,650 level, and with improved market conditions, it could gradually rise towards $1,800–$2,000.
The current state of Ethereum raises concerns. Technical indicators suggest weakness, and unusual actions from large wallets are increasing panic among regular investors. The situation requires careful monitoring.
