The price of Ethereum (ETH) has dropped by almost 10% on February 25, pushing its market cap below $300 billion for the first time since early November 2024. Multiple indicators, including the RSI and moving averages, show bearish momentum. ETH's RSI is currently at 29, indicating oversold conditions and potentially setting the stage for a short-term rebound. However, the oversold conditions do not guarantee an immediate price recovery. The number of ETH whales, large holders with at least 1,000 ETH, has recently decreased, suggesting some whales are reducing their positions and contributing to the selling pressure. The recent death cross formation, where the short-term moving average crosses below the long-term moving average, indicates a bearish trend, and caution is warranted as downward pressure could persist. To reverse this trend, buying pressure would need to increase and push the short-term moving average back above the long-term one.



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