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ethereum experienced a strong decrease yesterday when the broader cryptocurrency market fell. eth prices fell more than 9% in just a few hours, trembling the confidence of investors and raising concerns about a possible deeper correction. The sudden recession has caused fear in US markets, which adds to the uncertainty that the cryptographic space has grabbed this Monday morning.
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The best cryptographic analyst Carl Runefelt shared a technical analysis of x, shedding light on the precarious position of ethereum. According to Runefelt, ethereum could test the support level of $ 2,800 if the market continues its downward trajectory today. This key level could serve as a critical situation for eth, since losing it could lead to greater decreases and greater sales pressure.
The feeling of the market has received success, and many investors prepare for greater volatility in the next few days. Analysts are closely monitoring macroeconomic indicators and broader market movements to measure the potential impact on ethereum's price action. As eth looms around the fundamental support zones, the next 24 to 48 hours will be crucial to determine whether cryptocurrency can recover impulse or face deeper correction. Investors are urged to step cautiously while the market navigates this volatile phase.
ethereum faces intense sales pressure
ethereum has been under significant sales pressure since the end of December, which reflects the greatest volatility that the broader cryptocurrency market has reached. Analysts and investors are increasingly bearish, with a feeling that suggests that eth can continue to decrease in the next few days. This challenging phase has generated concerns about the short -term perspectives of the asset, leaving many market participants to the limit.
Top crypto analyst Carl Runefelt <a target="_blank" href="https://x.com/TheMoonCarl/status/1883818741554679881″ target=”_blank” rel=”nofollow”>shared his technical analysis in xhighlighting a critical support level for ethereum. Runefelt predicts that eth could reach the support level of $ 2,800 if the current market recession persists. This key level could be a solid basis for a potential recovery or indicate greater weakness if it breaks.
Despite the bassist feeling, some investors and merchants see this possible fall as an opportunity. ethereum remains one of the most prominent cryptocurrencies, and many believe that it is still ready for significant profits in this cycle. A correction at $ 2,800 could provide an attractive entry point for those who trust ethereum's long -term growth foundations and potential.
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As the market continues to sail for this uncertain period, all eyes are in the action of the price of ethereum. If it remains in critical or succumbing support to the additional sales pressure, it will play a crucial role in the configuration of its trajectory in the coming weeks.
The price remains above critical support
ethereum (eth) is currently traded at $ 3,050, maintaining a position just above the 200 -day mobile average, which is $ 2,988. The 200 -day mobile average is considered widely as a long -term resistance indicator, and maintaining above this level could indicate a possible investment of the ongoing descending trend.
The market is watching closely to see if ethereum can maintain this critical support, since it could mark the beginning of a recovery phase. Analysts emphasize that staying above the 200 -day mobile average is essential to build a bullish impulse and restore the confidence of short -term investors.
However, maintaining support is just the first step. To confirm a trend investment and establish a stronger bullish perspective, ethereum must claim the resistance level of $ 3,300. This would indicate that buyers have regained control, potentially racing the way for more rise.
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On the other hand, losing the level of $ 2,988 could lead to greater sales pressure, with the possibility of testing the lowest support levels. As the market navigates for this crucial moment, the next few days will be crucial to determine if ethereum can maintain its current levels and boost towards the recovery of higher land. For now, merchants and investors remain cautiously optimistic.
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