Ethereum

Flow

Future

Momentum

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Ethereum’s selling pressure has been increasing, indicating a potential price drop.</li> 
 <li>Data suggests that Ethereum may be overvalued, with no signs of an imminent trend reversal.</li> 
</ul>  
<h2 id="ethereum-under-pressure">Ethereum Under Pressure</h2> 
<p>Ethereum [ETH] investors are facing a challenging market climate, with bearish trends dominating. </p> 
<p>Recent data suggests that it could take longer for bullish trends to regain control. </p> 
<p>Over the past week, the price of Ethereum has been pushed down by more than 10% according to CoinMarketCap data. </p> 
<p>In the last 24 hours, the bearish trend continued with a 1.6% dip in Ethereum’s value. </p> 
<h2 id="ethereum-s-troublesome-future">Ethereum’s Troublesome Future</h2> 
<p>At the time of writing, Ethereum was trading at $2,486.34 with a market capitalization of over $299 billion. </p> 
<p>According to data from IntoTheBlock, 76.8 million ETH addresses remained profitable, accounting for 63% of total ETH addresses. </p> 
<p>However, a tweet from crypto analyst Ali highlighted that the MVRV Momentum indicates Ethereum is still in a downtrend. </p> 
<p>There are no signs of a trend reversal, suggesting that the altcoin king might drop further. </p> 
<h2 id="potential-support-levels-for-ethereum">Potential Support Levels for Ethereum</h2> 
<p>Analysis of Glassnode’s data revealed a significant spike in Ethereum’s NVT ratio, which typically suggests overvaluation and potential price correction. </p> 
<p>CryptoQuant’s data also showed several bearish metrics, including an increasing ETH exchange reserve, indicating rising selling pressure. </p> 
<p>The total number of coins transferred decreased by -37.28% compared to the previous day, and the number of active addresses also dropped. </p> 
<p>Technical indicators such as the MACD and Chaikin Money Flow (CMF) registered a downtick, suggesting a potential further price drop. </p> 
<p>If this trend continues, Ethereum could plummet to $2.28, and a slip under that support level could push ETH down to $1.86 in the coming days or weeks. </p>

Impending Ethereum Downfall: The Reasons Behind a Potential Dip to $1800

Table of Contents

CoinEagle.com

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