Ethereum (ETH) is facing a potential price decline as it has formed a bearish price pattern. However, investors and long-term holders are accumulating tokens, with over $321 million worth of Ether being withdrawn from exchanges, indicating potential buying pressure. Intraday traders are betting on the short side. The current price momentum is negative, with Ether trading near $2,690 and experiencing a 1.30% drop in the past 24 hours. Technical analysis suggests that if ETH falls below $2,700, it could drop by 20% to reach $2,200 in the future. The Relative Strength Index (RSI) indicates a bearish trend and the potential for further price drops.



Other News from Today