The public encryption market witnessed a strong declining movement. ethereum It is not an exception to this landmark because digital assets have seen less withdrawal than the main support levels. As offers in the market that hinder investor feelings towards ETH, Altcoin is likely to undergo an extended decline in the coming days.
The Habbiyah forces weigh the price of Ethereum
The latest prices of prices show that Ethereum can prepare for a correction phase where high pressure pressure begins to influence the original. IC News media platform Propagate After examining the behavior of investors and performing prices in the time frame for one day.
The IC News report indicates that the domain momentum slows down and that investors are considering achieving profits to reduce losses. Thus, ETH may experience more decrease, and strike the main support levels if the sale continues.
According to the platform, ETH witnessed strong selling pressure at the price level of $ 3500, indicating that there is no purchasing power from Investors. While the platform is considered a false outbreak, it raises the possibility of rejection soon.
Looking at price movements, IC News believes that altcoin will likely watch a file The upward trend If it only breaks the keys and restores the brand of $ 3,500 at the end. On the other hand, rejection can cause more fluctuations and a decrease in price.
With ETH price fluctuation, investors continue to move in development to determine whether the asset can recover its trend or in the event of a wider correction in the market.
However, some indicators mentioned on the ETH chart show that they may resume their upward movement to the decisive resistance areas near their highest level ever. Titan of Crypto, technical and experimental expert Expected A noticeable gathering for ethereum because it is preparing for a major break.
The expert has selected the falling scent on the graph for one day, where the collapse of the pattern is expected to regenerate the momentum and leads to a rise in the rise to Ethereum. “As expected, the upscale difference started, and he has played an eth outflow now,” he said.
Looking at the graph, Titan of Crypto expects altcoin For a height of up to $ 4,500 in the coming weeks, as soon as the outbreak occurred. Such a gathering may attract new and old investors, which will lead to an additional direction towards the highest new level ever.
The weak performance of ETH is associated with a reduction in whale transactions
While the leading entities have been significantly led in this course, the ETH still fails to start a large price gathering. The weak performance of ETH can be linked to slowing down Large transactions folders Compared to previous bulls.
Historically, an increase in the volume of transactions has preceded significant growth in prices as shown in market courses 2017 and 2021. At the same time, Ethereum is constantly seen small mutations in whales activity in this course, which cannot refer to a reward step. to Eth To see a strong recovery towards the main resistance levels, there must be a height in the size of large transactions.
Distinctive image from Unsplash, Chart from TradingView.com
