The general cryptography market has experienced a strong downward movement. Ethereum is no exception to this lower development since digital assets experienced a decline under key support levels. With decreasing market performance hindering the feeling of investors towards ETH, Altcoin is likely to undergo a prolonged decline in the coming days.
The lower forces weigh on the price of Ethereum
A recent price action shows that Ethereum could prepare for a correction phase while the increased sales pressure begins to weigh on the asset. IC news information platform foreseen After examining the performance of the behavior and prices of investors within a day.
IC News Report indicates that the bullish momentum slows down and that investors are planning to take advantage in order to minimize losses. Thus, the ETH could undergo an additional decline, reaching key support levels if the sale continues to increase.
According to the platform, ETH experienced high sales pressure at the price of $ 3,500, indicating a lack of purchasing power from investors. Although the platform considers this development as a false waterproof, it shortly raises the possibility of a rejection.
Given the price movements, IC News believes that Altcoin will probably see a tendency If only it breaks above the key thresholds and finally finds the $ 3,500 bar. On the other hand, a rejection can lead to more volatility and a drop in prices.
While the price of the ETH fluctuates, investors continue to sail in development to determine whether the asset can recover its upward trend or if a wider market correction will occur.
However, certain indications mentioned on the graphic of ETH show that it could resume its movement up towards areas of crucial resistance near its top of all time. Crypto titan, a technical and trader expert predict A notable rally for Ethereum while preparing for a key break.
The expert has identified a corner diagram falling on the graph of a day, in which an escape from the model should cause renewed momentum and trigger a resumption of Ethereum. “As expected, the divergence raised began and the corner of the fall of Eth has now played,” he said.
Looking at the graphic, Titan of Crypto expects altcoin To increase up to $ 4,500 in the coming weeks once an escape will occur. Such a rally can attract new and old investors, which will arouse an additional upward trend towards a new summit of all time.
The underperformance of the ETH linked to the reduction of whale transactions
While the main altcoins have remarkably carried out this cycle, ETH continues not to launch a major price rally. ETH’s underperformance could be linked to slowness Important transaction volumes Compared to previous bull cycles.
Historically, an increase in the volume of significant transactions preceded significant prices growth, as shown by the 2017 and 2021 market cycles. Meanwhile, Ethereum is constantly sees small points in the activity of whales in this cycle, which are unable to report a parabolic movement. For Ethn To attend a strong rebound towards key resistance levels, there should be an increase in the large volume of transactions.
Felash star image, tradingView.com graphic
