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This Is Why Ethereum (ETH) Risks Falling Below $3,000 Beincrypto 24 ноя 2024

This Is Why Ethereum (ETH) Risks Falling Below $3,000 📉

Ethereum (ETH) is experiencing significant downward pressure, with its price dropping 3% in the last 24 hours, risking a fall below the crucial $3,000 mark. The analysis looks into various factors contributing to this possibility.

A key factor is the potential formation of a "death cross" in ETH's MACD indicator, which signals a bearish trend when the MACD line crosses below the signal line. This suggests increased selling pressure.

The Aroon Down Line trend strengthens this bearish outlook, reaching 78.57%. It indicates growing bearish momentum as recent lows occur more frequently, pointing towards a potential downturn.

Currently, ETH trades at $3,333, just above the vital support level of $3,203. A breach below this could result in a price drop to $2,970. Conversely, if demand for ETH rises, it could invalidate this bearish thesis, potentially driving the price towards $3,500.

Источник: beincrypto.com ↗

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