Ethereum on the abyss: does a relapse threaten $ 3,500?

Ethereum on the abyss: does a relapse threaten $ 3,500?

Ethereum (ETH) is currently the $ 4,000 mark and shows signs of weakness. According to the current reports of U TONAY indicate technical indicators and liquidity data on a risky situation that investors are concerned. Ethereum's course recently left a symmetrical triangle that stabilized the price movement for weeks. An increase in sales volume has made the Bearish pressure clear after this outbreak.

Worrying developments are emerging because the 20-day and 50-day emas, which previously served as short-term support, were broken through. Ethereum now depends heavily on the 100-dayema, which acts as the last support. A possible decline in the 200-dayema ​​at around $ 3.400 is feared, which also makes the situation precarious.

Liquidity and trading volume

A significant concentration of purchase liquidity is between $ 3.800 and $ 3,500, which acts as a price action magnet. The liquidity in the cryptocurrency markets has a direct impact on the price movements. Sellers currently dominate, which is probably how Ethereum is probably pulled towards this dense order block.
The Ethereum's RSI is approaching oversized conditions, but so far there are no significant reversal signals.

In addition, the trade volumes show an imbalance: buying attempts are constantly exceeded by sales. These developments indicate that Ethereum is at a turning point. A deeper correction could take place in the upcoming sessions, which increases uncertainty among investors.

The market structure is and remains precarious, and attention is increasingly on the area of ​​$ 3.800 $ 3,500, where many expect the future of Ethereum. Investors and analysts therefore observe the situation closely because the next steps for the best -known cryptocurrency could be decisive.