The morale of the total encryption market has turned to the landing, as the main assets such as ETHEREUM (ETH) and BTC have recorded a significant decrease in prices over the past 24 hours. Amid this, Ethereum, with a significant decrease in prices by 7 %, reached a main level currently as a state of making or breaking the original.
Technical analysis of Ethereum (ETH) and upcoming levels
According to expert technical analysis, with a noticeable decrease, ETHEREUM has reached a major level of $ 1820 for the second time this month and it appears to be weakening this level, indicating a possible possible decrease.
Based on the modern measures of historical prices and patterns, if the original fails to keep this level and close a daily candle than a brand of $ 1,800, there is a strong possibility that can decrease by 18 % to reach a level of $ 1,490 in the coming days.
Meanwhile, in the weekly timeline, ETHEREUM is already weak and in a declining direction as the EMA moving average (EMA) is trading on the daily time frame. In addition, although ETH shows the bullish momentum in early March 2025, the level of its collapse has been successfully re -tested and is now about to decline in prices.
If ETH continues to keep this style, it will open a path for ETAREUM to reach $ 1,200 or even less.
Current price momentum
At the time of the press, ETHEREUM is trading near $ 1870, with a decrease of 7 % over the past 24 hours. However, during the same period, the trading volume jumped by 50 %, indicating an increase in the participation of traders and investors compared to the previous day.
$ 391 million of the short bet
Despite a great leap in the trading volume, ETHEREUM merchants remain down, in the wake of the broader market morale, as stated by the Analysis Company on the series Coinglass.
Data reveals that merchants who are betting on the short side are excessive at its borders at 1925 dollars, after they built $ 391 million in short centers at this level. Meanwhile, merchants are excessive on the long side at $ 1,855, with long centers worth $ 120 million.
This clearly indicates that the bears are dominating and can easily filter long situations with the price of the ETH to a decrease.
