Ethereum price chart targets $1.8K as total value locked hits 13-month lows

💡 DMK Insight

Ether’s current bearish pattern signals potential for a 14% drop to $1,800, and here’s why that matters: With ETH trading at $2,113.40, the declining total value locked (TVL) in the Ethereum network is a red flag. A drop to $1,800 would not only test key support levels but could also trigger stop-loss orders, exacerbating downward pressure. Traders should keep an eye on the daily chart for confirmation of this bearish trend, especially if the price breaks below the $2,000 mark. This could lead to a cascade effect, impacting related assets like DeFi tokens that rely heavily on Ethereum’s infrastructure. But don’t overlook the flip side: if ETH manages to hold above $2,000, it could indicate a potential reversal, especially if there’s a sudden influx of capital into the network. Watch for any news or developments that could shift sentiment, as institutional interest could quickly change the narrative. For now, monitor the $1,800 level closely; it’s a critical point that could dictate short-term trading strategies.