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

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