Ethereum continues to face pressure amid recent significant sales. This situation has raised concerns among investors and experts.
Current State of Ethereum
As of April 8, Ethereum (ETH) has breached key support levels and is trading around $1,465. Technical analysts highlight $1,475 as a critical support level moving forward.
Market Reaction and Trading Trends
Analysts warn of a potential 30% price correction if ETH closes below support levels. The sale of 10,000 ETH for $15.7 million has already led to a 65% decline in trading activity. Market participants are observing the situation amid global economic uncertainty.
Future Perspectives
If Ethereum's price continues to decline and fails to hold the $1,450 level, further drops toward $1,000 may occur. Market participants are hesitant to trade as they await potential signs of recovery.
Ethereum is under pressure due to large-volume sales and slow trading trends. The coming days could be critical for the cryptocurrency's short-term outlook.
