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With ETHEREUM (ETH) continues to experience a significant decrease in prices, a 17 % decrease during the past month, the key Resistance levels It has emerged as critical points of the second largest encrypted currency. Analysts suggest that these levels can ignite a possible reflection of the trend if reclaimed.
Ethereum faces a possible decrease to $ 1,155
In a conversation to update Common on the former social media platform (Twitter), the most prominent Crypto analyst on Martinez is two central price points for the direct future of ETHEREUM.
The first, which was appointed at $ 2100, is seen as a necessary threshold to start a new upward trend. However, the $ 2,300 brand is a “more decisive” level that ETHEREUM must violate it to confirm the bullish reflection.
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Martinez’s analysis, based on the one -day chart shown below, indicates that if Ethereum fails to restore these levels, this may lead to an additional decrease.
The following target points will be to watch $ 1,600 and $ 1,155, which are new levels The declining direction. Such a decrease will represent additional losses by 12 % and more than 37 %, respectively, which represents a worrying continuation of the worst first quarter of Ethereum in its history.
In another mailThe analyst also indicated that the price of Ethereum faces a large resistance wall between $ 2,200 and 2,580 dollars. The data on the series from the InTotheblock Analysis Company reveals that about 12.43 million investors bought about 66.18 million ETH within this price range.
The collapse above these levels can generate a bullish momentum of the encrypted currency. However, the bullish stimuli that can lead to a step above these levels are still rare among experts.
The largest accumulation area in ETH is under threat
Market Intelligence Glassnode Company Shown The basis for the cost of ETH shows this limited support near the current prices. Weekly data indicates that costs of about $ 1,800 have not been returned. According to what was reported, many investors sell at a confusion, which adds to the current uncertainty of prices.
On March 28, many groups disappeared approximately 250,000 ETH with cost rules ranging from $ 2000 and $ 2050, indicating that some The higher cost owners They try their average positions.
However, Glassnode emphasizes that the total ETHEREUM accumulation area looks limited at current price levels, raising questions about stability in the future of the second largest encrypted currency.
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Elderly The accumulation area Less than the current market price is now at 1537 dollars, where approximately 994,000 ETH has been obtained. If the declining direction continues, it is expected that this level is expected to serve as structural support in the short term, which may provide a temporary store against more declines.
ETH is currently trading at $ 1830, a decrease of 12 % for this week.
Distinctive image from Dall-E, Chart from TradingView.com
