NEWSLETTER
ethereum (eth) has been under intense sales pressure, which raises concerns among investors over the coming weeks. The trend is still low, and if this impulse continues, eth could fight to find support at key levels. Compared to bitcoin and other Altcoins, eth has had a lower performance, feeding a negative perspective among merchants.
Unlike the previous market cycles where eth moved synchronized with bitcoin, recent price action suggests a disconnection between the two assets. The key metric of Intotheblock reveal that eth remains largely not correlated for btc, showing a 30 -day pricing of only -0.06. This lack of correlation means that bitcoin's bullish impulse has not translated into force for eth, which adds to the uncertainty of investors.
With ethereum lagging behind other important cryptocurrencies, analysts warn that a greater inconvenience is possible unless eth can claim critical resistance levels. The market is closely observing if eth can find support and reverse this disappointing price action or if the bassist trend will continue in the coming weeks. As eth struggles to recover impulse, investors are still cautious, waiting for a clearer signal before making their next movement.
ethereum correlation with the market
ethereum has been caught in a bearish trend since the end of December, falling more than 28% since its maximum local of $ 4,100. Despite bitcoin's bullish impulse, eth has not been able to win traction, leaving investors concerned about their disappointing action. Many now speculate if ethereum could face another disappointing year, since Altcoins such as Solana, Avalanche and Polygon continue to surpass eth in terms of price movement and investor interest.
<a target="_blank" href="https://x.com/intotheblock/status/1885735075855131123″ target=”_blank” rel=”noopener nofollow”>Key Metricos de Endotheblock Provide an interesting vision of ethereum market behavior. Unlike the previous cycles where eth closely followed the btc, now it seems largely without correlating, with a 30 -day pricing of only -0.06.
This means that even as bitcoin moves higher, ethereum has struggled to gain impulse. However, other important assets such as Polygon (0.91) and Avalanche (0.93) remain closely correlated, suggesting that the eth price action is unique in this cycle.
Looking towards the future, February could be a fundamental month for ethereum. Historically, this has been an upward period for eth, and many investors expect a reversal of trends. If eth can break the key resistance levels and recover the lost terrain, the feeling around its performance, this cycle could change rapidly. However, the lack of impulse could lead to continuous stagnation, allowing other alternatives to be called the center of attention.
ethereum fights under key support when the bears take control
ethereum is quoted at $ 3,090 after not staying above the exponential mobile (EMA) average of 200 days to $ 3,137. This key level was a crucial support zone for bulls, but now that it has been lost, the bearish pressure is being mounted.
Bulls are in trouble, since the price action suggests that eth is preparing for another leg. If this sales pressure continues, eth could establish a new local low and try a lower demand around the $ 2,900 brand. A breakdown below this level would indicate a deeper correction, which potentially leads to extended consolidation or additional decrease.
For ethereum to recover the impulse, the bulls must recover the level of $ 3,300 and push higher. This area has acted as strong resistance in recent weeks, and turning it in support would confirm a reversal of trends. However, if eth cannot claim this brand, the next critical level of view is less than $ 3,000, where additional purchase interests may arise.
With the feeling of the inclined bass market, eth must be maintained above the key demand areas to avoid a more significant recession. If bulls cannot intervene soon, ethereum could continue delaying behind bitcoin and other alternative alternatives.
Outstanding image of Dall-E, TrainingView graphics
