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Ethereum faces a renewed drop pressure, the entire cryptography market in a new downward trend in the last 24 hours. This renewed sales pressure saw the Ethereum price losing a solid level of support at $ 1,800, which made it lower about 14.5% of its price 24 hours ago at the time of writing.
The commercial trend shows that the Ethereum price is about to break below $ 1,500, an analyst even suggesting a potential break at $ 1,000. However, despite the sharp decline, the technical models suggest the possibility of Ethereum revisiting much higher price levels at $ 3,933, specifically to fill several CME term gaps which are still open above.
Ethereum breaks below the key support, larger distribution in advance
The loss of support of $ 1,800 has reinforced the case of the bear for Ethereum, in particular in the middle of a wider weakness in the Altcoin market. One of the most blunt catches comes from Crypto Analyst Andrew Kang, that argued that The price of Ethereum is actually overvalued. He described the market capitalization of $ 215 billion in Ethereum as “ridiculous” for what he calls an “active growth / profitability”.
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According to Kang, the momentum of the speculative winds which had used to light the prices overvoltage of Ethereum was dry, and a revision of the zone from $ 1,000 to $ 1,500 is $ 1,500 is not only likely but late. What adds weight to Kang’s warning is how speed the market seems to have validated his concerns.
Since its declaration, the market capitalization of Ethereum has dropped considerably, going to $ 186.5 billion at the time of the drafting of this document. Although the decline is Due to other market factorsthe pace and depth of this decline suggest that Trust of investors in Ethereum Can be lower than expected, without immediately reversing in sight. If the bearish pressure continues, Ethereum could soon be at the lower end of the projected fork of Kang at $ 1,000.
The CME differences above $ 2,500 offer technical prospects for the rebound
Even if the trends in lower prices action, the Ethereum CME graph tells a different story. Crypto titan stressed that Three separate CME gaps are not filled above the current market level. This is in particular a difference between $ 2,550 and $ 2,625, another between $ 2,890 and $ 3,050, and a third gap partially filled between $ 3,917 and $ 3,933.
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The theory of the CME space is rooted in the observation that the prices of assets often return to fill these voids, even if the decision takes weeks or months. In the case of Ethereum, the chances of a return to CME gaps are very small in the short term.
However, given that the T2 2025 has only started, it is still enough time to attend Required purchase pressure To fill these levels before the end of the year. At the time of writing the editorial staff, Ethereum is negotiated at $ 1,540, down 14.5% in the last 24 hours.
Felash star image, tradingView.com graphic
