hani7866666

06/14 18:33

Ethereum is experiencing a decline – what are the

Ethereum is experiencing a decline – what are the reasons?


Ethereum saw a sharp drop in price today, falling nearly 10% as fears of an expanding conflict in the Middle East rocked global markets.

The decline follows an Israeli airstrike on Friday that heightened concerns among investors and sparked widespread risk aversion.

Blockchain analysts are reporting a surge in bearish sentiment around ETH. The number of traders taking short positions in the futures market has increased significantly, signaling that many are expecting further losses.

According to Coinglass data , Ethereum’s long/short ratio has dropped to 0.86, indicating a clear bearish bias. A ratio below 1 is usually an indicator that the majority of market participants are betting on a continued decline in the price.

Momentum indicators further support the negative outlook. Ethereum’s Balance of Power (BoP) has turned sharply negative, registering a value of -0.69. This suggests that sellers are dominating and that demand remains weak.

ETH is currently trading just above the key support level of $2,550. If the downward pressure continues, the next likely target could be in the $2,027 range. However, if sentiment improves and buying interest increases, the altcoin could recover and test the resistance around $2,745.
ethereum-red

#Check In Daily, Win Prizes Daily — Join the Fun!#Share Your Thoughts on Popular Assets in June#Claim1,200 USDT in the Monthly Creation Challenge

LikeShare