• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Ethereum Might Drop Below Key Support Levels: Analysts Concerned

user avatar

by Giorgi Kostiuk

6 hours ago


Ethereum recently broke a key support level at $2,200, reinforcing bearish market sentiment and sparking concerns about a potential drop to $1,250.

Introduction: Ethereum Risks

Ethereum has slipped below a key support level of $2,200, intensifying bearish sentiment in the market. This decline could lead to a drop to $1,250, aligning with historical support and Fibonacci retracement levels. If selling pressure persists, ETH could fall toward this target.

Current Situation Analysis

Analyst Ali Martinez highlights that Ethereum’s breakout from a parallel channel signals a potential decline to $1,250. Ethereum has already declined to $1,840. Analysts have identified crucial support zones at the $1,640 and $1,250 levels.

Ethereum targets $1,250 after breaking out from this parallel channel!Ali Martinez

Potential Support Level Insight

According to Glassnode, Ethereum’s Cost Basis Distribution (CBD) has increased from 1.6 million to 1.9 million ETH at the $1,886 level. This could potentially offer temporary support, while fear-driven selling by long-term holders may create favorable accumulation conditions.

With ongoing selling pressure, Ethereum faces further losses if it fails to uphold critical support levels. Nevertheless, data suggest potential accumulation opportunities ahead.

0

Share

Other news

Minnesota Cryptocurrency Bill: Details and Implications

Minnesota considers a cryptocurrency bill proposing new investment and tax opportunities.

user avatarGiorgi Kostiuk

12 minutes ago

Bitcoin Demand Weakening Since December 2024

CryptoQuant's report signals diminished interest in Bitcoin trading since December, affecting global crypto markets.

user avatarGiorgi Kostiuk

12 minutes ago

How Litecoin, Chainlink, and Polkadot Are Transforming the Blockchain World

Discover how Litecoin, Chainlink, and Polkadot are revolutionizing digital transactions with innovative technologies.

user avatarGiorgi Kostiuk

12 minutes ago

Sonic and FloppyPepe (FPPE) Prices: A Look at Current Trends

Sonic and FloppyPepe (FPPE) draw attention as they gear up for a potential crypto bull run. Explore what's happening.

user avatarGiorgi Kostiuk

29 minutes ago

Fibonacci and Market Cycles Define Ethereum's Path

Analysis of Ethereum's support and resistance levels. Support at $1,850 is critical for price growth.

user avatarGiorgi Kostiuk

37 minutes ago

Chainlink Increases Circulation by 19 Million LINK

Chainlink added 19 million LINK to circulation, causing a 5% price drop.

user avatarGiorgi Kostiuk

38 minutes ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.