Ethereum (ETH) has experienced a drop in price to the $2.2K zone, the lowest since January, due to various factors such as the launch of a new decentralized exchange and Ripple integrating Ethereum smart contracts. Recent selling activity by Vitalik Buterin and the Ethereum Foundation has added to concerns about ETH's short-term prospects. Although there have been signs of recovery, it may take time for bullish sentiment to return. Daily trading volume has increased, reflecting heightened market activity, but overall market sentiment remains cautious. The MACD indicator shows mixed signals, leaning bearish, and the RSI suggests ETH is nearing oversold conditions. Immediate support and resistance levels are at $2,150 and $2,400, respectively. The short-term and long-term moving averages are above the current price, and the CMF indicates a decline in money flow and trading volume.
- Content Editor ( thenewscrypto.com )
- 2024-09-09
Ethereum Dips to $2.2K Zone for the First Time Since January