Ethereum

DeFi

Momentum

Flash

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-struggles-with-key-price-barriers" rel="noopener noreferrer nofollow">Ethereum Struggles with Key Price Barriers</a><br></p>
<p style="text-align: justify">The digital currency <a href="https://en.bitcoinhaber.net/ethereums-resilience-amid-market-fluctuations" rel="noopener noreferrer nofollow">Ethereum</a> experienced a drop in value which has cast doubts on the likelihood of a rapid recovery to its all-time price highs. After a short-lived price uptick earlier in the week, Ethereum saw a 2.6% decline, posing questions about market optimism. This slip in value comes alongside a decrease in 24-hour trading volume, suggesting a potential dip in investor engagement.</p>
<h2 id="market-momentum-slows-down">Market Momentum Slows Down</h2>
<p style="text-align: justify">With Ethereum’s trading price now fluctuating near $3,430, a stark contrast to its earlier peak of $4,091, indications of a bearish trend are emerging. The digital asset is now testing a crucial support level at $3,050, which, if broken, could trigger significant liquidation events. The derivatives market has not been immune to this downturn, with open positions reflecting subdued trader activity and possible shifts in market dynamics.</p>
<h2 id="defi-indicators-flash-caution">DeFi Indicators Flash Caution</h2>
<p style="text-align: justify">The Total Value Locked (TVL) in Ethereum’s DeFi ecosystem has seen a notable decline from $57.59 billion to $50.63 billion, according to DefiLlama. This reduction in TVL may increase sell-off pressures as investors possibly remove their tokens from staking contracts. Despite a recent rally to $3,640, Ethereum’s price quickly corrected due to insufficient momentum, casting doubt on its immediate potential for further gains.</p>
<p style="text-align: justify">The <a href="https://en.bitcoinhaber.net/the-excitement-of-bitcoin-price-increase-after-the-possible-approval-of-bitcoin-spot-etf" rel="noopener noreferrer nofollow">cryptocurrency</a> faces a critical juncture, with the 38.2% Fibonacci level providing some support. Should it hold, a rebound is anticipated. Nevertheless, the Moving Average Convergence Divergence (MACD) indicator hints at a pullback towards the neutral territory, signaling a chance for investors to lean towards short positions. The market awaits signs of a stronger recovery or further decline as Ethereum grapples with these pivotal price levels.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereum-struggles-with-key-price-barriers" rel="noopener noreferrer nofollow">Ethereum Struggles with Key Price Barriers</a></h5>

Ethereum Struggles with Key Price Barriers

Table of Contents

BH NEWS

Other articles published on Mar 22, 2024

Google Integrates Cryptocurrency Wallet Balances in Search Results

Hidden Gems: Next Breakout Cryptos with 100X Potential

Crypto Sleuth Identifies French Dev’s Massive TICKER Theft of $900K

Rising Above the Memecoin Mania: The NFT Token That’s Capturing Investors’ Eyes

Solana Breaks Out of Rounding Bottom Pattern, Analyst Shares Next Key SOL Targets

Setback for Do Kwon’s Extradition as Montenegrin Court Halts Proceedings

Join our free newsletter for daily crypto updates!