Ether leads crypto losses with 30% crash: Where is the bottom?

💡 DMK Insight

Ether’s current price of $2,049.84 is under pressure, and here’s why that matters: With bearish technical indicators suggesting a potential drop towards the $1,000-$1,400 range, traders need to be alert. The confluence of these signals indicates that selling pressure could intensify, especially if we see a break below key support levels. Watch for the $2,000 mark; a sustained drop below this level could trigger further selling. Onchain metrics also hint at weakening demand, which could exacerbate the downward trend. But here’s the flip side: if ETH manages to hold above $2,000 and shows signs of recovery, it could attract buyers looking for a bargain, potentially reversing the bearish sentiment. Keep an eye on trading volumes and market sentiment, as these will be crucial in determining whether we see a bounce or a deeper decline. For now, the $1,400 level is critical to monitor, as a drop to this range could present a buying opportunity for long-term investors willing to weather the volatility.