Ethereum (ETH) has reached a new annual hollow of $ 2,076 earlier during the day, still weakening the feeling around the second largest cryptocurrency by market capitalization. If Ethereum falls below $ 2,000, it could trigger additional losses for investors.
Ethereum feeling at a 12 -month hollow
According to Coingecko data, Ethereum has dropped approximately 28% in the last 30 days and is currently negotiating around the $ 2,200 level. The cryptocurrency has lost more than $ 230 billion in market capitalization since December 2024.
The Investment Manager of Crypto 0xlouist went to X to share a graph indicating that the feeling around Ethereum is at its lowest point in one year. A drop below $ 2,000 could intensify the lowering feeling, exerting additional pressure on the ETH.
Likewise, the Bitcoin (BTC) trader (BTC) Jason Pizzino pointed out that the ETH could be “more difficult than expected” if it closes below the fork from $ 2,000 to $ 2,100. He added:
Remember that February was when most influencers beat the drum $ ETh And told us to “follow the money” because Trump et al. would buy millions of dollars. It always seems to me to be shady.
A fence of less than $ 2,000 would complete a dual lowering top model on the monthly graph, potentially sending the ETH in the $ 1,000 low range. For the context, the last time Ethereum exchanged in the range of $ 1,500 was in October 2023.
Other Crypto Morin analyst highlighted The level of weekly ETH demand between $ 1,900 and $ 2,100, the weekly supply area positioned approximately $ 2,600. The analyst expects the digital assets to fluctuate in this range “in the near future”.
Some positive signs for ETH
Although the short -term prospects of the ETH seem uncertain, some indicators suggest that investors have not completely lost confidence in the assets. For example, using chain data, Crypto Ali Martinez analyst stressed that major holders – also known as cryptocurrency – have bought More than 110,000 ETH in the last 72 hours.
Similarly, Leon Waidmann, responsible for research at the ONCHAIN Foundation, stressed that despite the drop in prices of the ETH, the exchange reserves continue to drop. Waidmann noted that the fall in exchange reserves indicates the confidence of investors, because fewer ETH tokens are transferred to exchanges against a potential sale.
However, concerns remain for Ethereum, in particular as the percentage of network implementation seen A sharp drop in its peak in November 2024. On the other hand, the Crypto Ted Oreil analyst remains optimistic, forecast This ETH is still on the right track to exceed $ 10,000. At the time of the press, ETH is negotiated at $ 2,222, down 3.6% in the last 24 hours.
Star image of Unsplash.com, X charts and tradingView.com
