Ethereum Price Under Pressure: Here’s Why $3,000 Is A Critical Level
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Ethereum's price has faced significant bearish pressure recently, with a continuous decrease over the past week. Despite the launch of spot ETH ETFs, the price of Ethereum is approaching the critical $3,000 support level.
According to IntoTheBlock, 1.7 million addresses purchased ETH near $3,000, highlighting the level's importance. Increased buying occurs whenever ETH approaches this range, indicating strong support.
If ETH price dips below $3,000, demand might surge as investors defend their cost basis. Fresh investors may also consider entering.
If $3,000 doesn't hold, Ethereum could drop to $2,800 or even $2,600. Currently, ETH is down 7% in the past 24 hours, standing at $2,988, marking a 9% decline over the last week.
Fonte: www.newsbtc.com ↗
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