Ethereum is experiencing a significant downturn, falling to $1,755, a decline of over 11% in the last 24 hours. This article examines the key factors contributing to this drop and analyzes the ETH/USDT chart.
Macroeconomic Pressures and Market Sentiment
The crypto market is affected by global economic uncertainty, particularly due to recent tariff impositions by U.S. President Donald Trump, raising concerns of a global trade war. Additionally, recent liquidations in the crypto market have increased pressure on ETH.
Technical Analysis of the ETH/USDT Chart
From a technical standpoint, the chart shows a bearish trend with a recent break below the ascending channel line. The current price position below the 200-day EMA indicates a weak short-term outlook. A fragmented 4-hour timeframe review reveals potential rebound levels.
Short-Term Forecasts and Next Steps
Potential recovery relies on easing global trade tensions or increased buying pressure. Possible price movement direction includes the $2000-2050 range, while significant growth requires improving overall market sentiment.
The combined crypto market cap has declined by 5.6%, reaching $2.7 trillion. Current conditions necessitate further observation of global economy and market trends.
