Ethereum fell briefly to $ 1415 on Monday amid a wider bloodbath on the market. The encryption assets have been regained since then and are currently being traded at $ 1505. Nevertheless, its price has decreased by 15 % over the past 24 hours.
This sharp decline comes as the broader cryptocurrency market interacts negatively with the intensive global tariff approach to the Trump administration. The data indicates that the support level of $ 1,290 is now a decisive threshold for ETHEREM, with average cost costs in whales that indicate a possible recovery or a decrease in more decrease.
The next main support for Ethereum
Cryptoquant analysis It indicates that the next main support level for ETHEREUM is $ 1,290, where the average cost (the realized price) of the whale has more than 100,000 ETH. With the average cost of all ETHEREUM holders about 2200 dollars, many are currently facing losses.
Nevertheless, the analytical platform on the series stated that Altcoin showed flexibility in the past, as during the Terra-Luna crisis in June 2022, when it reached a decrease of $ 870 but was recovering quickly. This indicates the possibility of recovery even in difficult market conditions.
Meanwhile, whale and market behavior indicate that there may be more challenges in the future. When the original price took a great success, a spot on the chain I mentioned The ICO ETAREUM whale has deposited 7000 ETH, which is worth about $ 10.21 million, to Kraken.
Despite the last deposit, the whale still has 23,070 ETH, at a value of $ 34.5 million, and the symbols have been discharged during sharp prices. The last step appears to be a declining price in the short term.
When the whale deposits a large amount of assets to the exchange of encryption, it often indicates that they may prepare for sale, especially given that this appointed whale has been discharged during the low prices.
Ethereum is widely denied by its value
In a positive note, she has I mentioned The percentage of the market value of ETHER has decreased to the achieved value (MVRV) to 0.87, which represents its lowest point since December 2022. This measure indicates that the original is less than its value today.
The low MVRV indicates the possibility of price recovery, as it reflects the possibility of accumulation between investors at reduced levels.
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