In recent months, ETHEREUM (ETH) poetry with severe pressure. It decreased from more than $ 4000 in December 2024 to the current levels near $ 1,572, or nearly 60 % decrease in the price. It was a concessional channel on the daily chart, indicating that the declining momentum is continuing.
While the volume decreased by 33.25 % in the past 24 hours, the ETH price increased by 4.288 % in the same period. Is ethereum heading towards recovery, or will the Hubudian powers continue to control?
Ethereum prices analysis
The basic procedure shows a long -term direction, starting from December 2024. After reaching levels higher about $ 4,000, ETH has been constantly decreased, at the moment of $ 1572. This represents a decrease of about 60 % within four months. The concession channel clearly shows the strength of pressure in the past few months.
The ETH price tests the lower border of the concession channel, while finding temporary support near $ 1,422 (0 from the FIB level).
Emas decreases, which proves that the market structure has a decreased direction. Emas is the shortest duration of the rest below, and therefore, which increases the strongest declining momentum. Currently, ETH is trading under all the main moving averages.
The relative strength index sits around the level of 28.37, indicating that the eth is in the sale conditions. Despite excessive sale levels, buyers are shy to approach strongly, indicating a sense of the market. However, as soon as the wider market improves, the state of sale may hold its potential wealth of the gathering.
Ethereum has moved along a well -defined convergence channel since December 2024. prices have clearly rejected attempts to gather in the upper limits while the minimum limits have on a number of occasions that have witnessed price support. The current price procedure is to test these minimum limits at about $ 1550 in what has become a critical level in which the price can collapse or wear.
The main resistance levels are achieved between the following Fibonacci levels 2,029 dollars (0.236 FIB level), $ 2,405 (0.382 FIB level), and $ 2,709 (0.5 FIB level). Immediate support is at $ 1,422 (0 from the FIB level), which is exactly at the lower limits of the concession channel. The breach below is likely to escalate the sales pressure.
ETH price goals
Bears face immediate resistance at the level of 0.236 from FIB ($ 2,029) as the first obstacle to overcoming it. The successful rest over this mark has the ability to target the level of $ 2,500, near the level of national ligament 0.382.
If ETH decreases to the minimum lower boundaries of the channel and this is less than $ 1,422 support, we can expect to decrease to $ 1,200, which is another 24 % loss of current levels.
Ethereum whale movement leads to anxiety
The ETH market has seen intense liquidation pressure after a significant decrease in the ETHEREUM price. The whale lost 67,570 ETH, with a value of about $ 106 million. This happened due to the liquidation of a maker, after the sudden ethereum price collapse.
The investor, “7 brothers”, recently bought 24,817 ETH for about $ 42 million, prompting their total property to more than 1.2 million ETH, which is now estimated at about $ 1.9 billion.
Since February 3, this whale has bought about 103,543 ETH at a total cost of $ 230 million. Currently, they face a loss of $ 64 million in these positions. The Pisces movement has sparked such concerns about the encryption space, as investors are widely having a significant impact on market morale and price work. Crypto News continues today to follow their activities closely.
