In the past month, Ethereum (ETH) has experienced an 18% drop in value, leading to a decrease in the percentage of ETH held in profit. The altcoin's price has fallen below the critical support level of $3,000 and currently trades at $2,640, facing significant bearish pressure. The decline in price has pushed many ETH holders into losses, with just 64.19% of the circulating supply currently in profit. This decrease in investor confidence is further confirmed by the decline in open interest, which has fallen by 31% since February. If the selling pressure continues, ETH's price may drop further to $2,500 or even $2,224. However, if the market trend reverses, ETH could resume its uptrend and potentially reach $2,811.



Other News from Today