Ethereum has shown a slight price increase while remaining in a bearish trend. Experts analyze the potential causes and future outlook.
Current State of Ethereum
Ethereum's price has recently risen from a low of $1,762 and is currently holding around $1,940.57. However, the cryptocurrency remains in a bear market, having lost over 53% from its high in December. One reason for ongoing sell-offs is investors' caution amid economic uncertainties and tariffs introduced by Donald Trump.
Ongoing ETF Sell-Off
According to research center SoSoValue, Wall Street investors continue to reduce their positions in Ethereum ETFs, which lost $143 million this week, compared to $119 million the previous week. All Ethereum ETFs have assets worth $6.6 billion, significantly lower than Bitcoin's $93 billion. The growth of negative sentiment in the market currently concerns investors.
Chart Analysis and Forecast
The chart shows that Ethereum's price has stabilized in recent days. However, it failed to break the important mark at $3,000 and remains below the resistance level at $2,115. Ethereum has formed a 'death cross' pattern, where the 50-day and 200-day moving averages crossed each other, indicating a possible further price decline. This bearish view will be confirmed if the price falls below $1,762.
While ETH's price has risen slightly recently, high uncertainty remains in the market. Analysts warn of possible further declines, but some investors continue to buy assets at a dip, indicating confidence in long-term prospects.
