Ethereum is sailing a critical phase on the market after losing more than 14% of its value since September 13. The second largest cryptocurrency entered a corrective step after weeks of high price increases that brought it to multi-house summits. Despite the recent slowdown, the feeling among analysts and investors remains cautiously optimistic, many expecting that ETH rebounds once the resurfaces of Momentum Haussiers.
One of the most important signals in support of this point of view comes from cryptocizing, which reports that the average price of Ethereum accumulation is around $ 2.9,000. This level has become a key reference point for merchants, as it suggests that long -term holders and accumulation wallets are positioned at a much higher cost compared to past cycles. In practical terms, this could act as a solid support area, reducing the risk of decline and strengthening confidence in Ethereum’s ability to hold the ground.
The corrective phase is also part of the broader account of the consolidation of the market, where temporary withdrawals often reset the overheated indicators before the next rally. Although volatility can persist in the short term, the fundamental principles of ETH, combined with resilient onchain signals, continue to feed the expectations of a recovery and a force renewed in the coming weeks.
Ethereum levels of critical support signal
According to the upper analyst Burak Kesmeci, the price made of Ethereum for accumulation addresses has become one of the most important signals in the current market environment. With the ETH ETF rally, this metric has increased considerably, from $ 1.7,000 to $ 2.9,000 in a relatively short period. Such a clear increase underlines the aggressive positioning of long -term holders who have accumulated ETH to higher evaluations, effectively increasing the basis of the overall cost of this critical cohort.
At the same time, the total balance of these addresses has climbed 27.6 million ETH, an amazing amount that highlights the extent of the conviction among the accumulation portfolios. This suggests that a large part of the offer is now owned by strong hands investors, reducing the probability of selling and providing a stabilizing effect on the market.
Kesmeci notes that, in the worst case, the price made of $ 2.9,000 could act as a robust support area, offering a defensive line against the additional decline. However, the next few days will serve as a crucial test for etho bulls. Holding above the current levels will be essential to avoid a deeper correction which could undermine the bullish momentum accumulated in recent months.
Test critical support
Ethereum (ETH) shows a weakness after its recent decrease, the graph reflecting a strong sale of local peaks greater than $ 4,600 in the $ 4,100 area. Currently, ETH is negotiated at around $ 4,173, sitting just above the EMA 200 to $ 4,106, which is now acting as critical support. A sustained defense of this level is essential to prevent a deeper correction.
The EMA 50 to 4,402 $ 4,402 has turned down, highlighting a short -term lower momentum and strengthening the idea that sellers control. Unless ETH can recover the 50 EMA decisively, the pressure can continue. That said, the fact that the 200 EMAs are always increasing on the rise suggests that the long -term trend remains intact, even if the market enters a corrective phase.
From a technical point of view, the rejection nearly $ 4,600 has created a lower summit, a sign of prudence for the bulls. However, if ETH manages to stabilize above $ 4,100 and form a base, a rebound around $ 4,400 remains possible; Conversely, a break below EMA 200 could exhibit the area from $ 3,800 to $ 3,900 as the next major support.
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