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The post <a href="https://coinpedia.org/price-analysis/eth-price-teases-a-bearish-evening-will-sellers-cross-2000/">ETH Price Teases A Bearish Evening, Will Sellers Cross $2000?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Following the bearish end of last week, the selling pressure rolls on this week with a 1.26% intraday fall in ETH Price. Setting a bearish tone to this week, the sellers are preparing a market-wide takeover with a significant drop back in altcoins.&nbsp; 
Further, despite the recent DeFi TVL amount reaching the $57 Billion mark, Decentralized Finance is reviving.&nbsp; 
Despite such recovery in the DeFi world, the technical chart for Ethereum signals a serious pullback warning. In such times, looking at long-term predictions like our <a href="https://coinpedia.org/information/market-price-prediction-ethereum-2019/">ETH price prediction</a> could help avoid short-term waves in the market. 
<h2 class="wp-block-heading" id="h-sellers-undermine-the-ethereum-channel-breakout-nbsp">Sellers Undermine The Ethereum Channel Breakout&nbsp;</h2> 
<figure class="wp-block-image size-large">
 <img decoding="async" width="1024" height="483" src="https://image.coinpedia.org/wp-content/uploads/2024/01/22122156/image-118-1024x483.png" alt="" class="wp-image-263168" srcset="https://image.coinpedia.org/wp-content/uploads/2024/01/22122156/image-118-1024x483.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/01/22122156/image-118-300x142.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/01/22122156/image-118-768x362.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/01/22122156/image-118-1536x725.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/01/22122156/image-118-150x71.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/01/22122156/image-118.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
Source – <a href="https://www.tradingview.com/x/YCiUskI5/">TradingView</a> 
Crossing the overhead trendline with an 11% growth in the second week of 2024, the ETH price reached the peak of $2717. However, the overhead supply with the market pullback led to a quick fall in Ethereum prices.&nbsp; 
Moreover, with the sellers taking over the market amidst GBTC outflows, the altcoins are facing a dire threat. Hence, the weakening in the bullish trend warns of a negative cycle restarting in the rising channel.&nbsp; 
Currently, the ETH price trades at $2423 and teases a strong reversal possibility, threatening the $2000 breakdown.&nbsp; 
Hence, the buyers can find the $2400 breakdown as a selling opportunity, as the negative cycle can result in a 17% drop to $2000. On the flip side, if buyers can prevent the evening star, upside continuation can result in the $2500 breakout. Optimistically, the breakout run can reach the $3000 mark.&nbsp; 
Technical indicators: 
MACD indicator: The weekly MACD and signal lines are continuing the bullish trend amidst the pullback warning by the candlestick pattern.&nbsp; 
<h2 class="wp-block-heading" id="h-eth-price-under-short-selling-pressure">ETH Price Under Short-Selling Pressure</h2> 
As per Coinglass, most of the Ethereum traders are shorting at the current market price and the trend is growing over days. Following the dip on 12th January, the Long/Short Ratio shows growing pressure from sellers.&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" width="1600" height="459" src="https://image.coinpedia.org/wp-content/uploads/2024/01/22122720/image-119.png" alt="" class="wp-image-263175" srcset="https://image.coinpedia.org/wp-content/uploads/2024/01/22122720/image-119.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/01/22122720/image-119-300x86.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/01/22122720/image-119-1024x294.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/01/22122720/image-119-768x220.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/01/22122720/image-119-1536x441.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/01/22122720/image-119-150x43.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure> 
Currently, the LSR ratio at 0.9346 shows 51.69% short positions in Ethereum on a 24-hour chart.&nbsp;

ETH Price Teases A Bearish Evening, Will Sellers Cross $2000?

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