- summary:
- The ETHEREUM price has decreased below the main support level, with a significant decrease in the performance of the Defi and ETF that confirms a weak position.
The price of ETHEREUM fell more on Monday, reflecting the decline in the broader encryption market. The currency decreased by 6 % and traded at $ 1483 at the time of the press, with its weekly losses by 17.7 %. This performance seems likely to follow the rhythm determined by the global financial markets, which is sharply decreasing in the face of the expanded commercial tariff war.
Ethereum price compressed by the main fronts
The weak performance of ETH is also reflected in the ETF market. According to Coinglass data, Spot ETH ETFS recorded external flows of $ 49.93 million a week from March 31 to April 4. This indicates a decrease in the institutional interest in the currency, a feeling that limits the upward price. The price of ETHEREUM fell by 12.5 % on Sunday, its second loss from two numbers on the daily chart last month.
The declining trend is likely to continue, as the Ethusd trading volume increased by 343 % in the past 24 hours. Emphasizing the sharp rise in size amid the low prices in the high pressure pressure.
In addition, ETHEREUM achieved a great success in the Defi space, as the total closed value (TVL) decreased by 9.2 % over the past 24 hours to read $ 45.70 billion until this writing. Defi is Forte’s Chain’s Chain, as it represents 52 % of the total market share. Therefore, the weak performance in this front indicates a significant decrease in the interest of ETH, which will add pressure to the ETHEREUM price.
Predicting ETHEREUM price
Priev Price Brigen will make $ 1590 and resistance at this level, you will maintain the declining path. The currency is likely to find its initial support at $ 1450. However, an extended control component by sellers will collapse without this level and can follow the second support test at $ 1410.
However, if the price exceeds 1590 dollars, it will indicate a transformation in the momentum to the upper direction. The upcoming bullish step is likely to meet the first obstacle of $ 1620. A fracture above this level will nullify the narration of the downside. Also, this momentum can extend ETHEREUM payment price to test 1650 dollars.
