Ethereum Price Hovers Above Key Leverage Zone at $2,830-$2,835

Ethereum's price is currently under significant pressure, having dropped below $3,000. It is now trading within a critical leverage range, which will determine its potential recovery or further decline.

Key Points

The current important leverage point for Ethereum is between $2,830 and $2,835.
A recent price drop pushed Ethereum into a demand zone at $2,680, resulting in a 10% rebound to $2,970.
Despite this rebound, the cryptocurrency remains at risk as large whale orders have been executed between $2,830 and $2,835.
As long as Ethereum trades above $2,835, whales remain profitable, influencing market dynamics.
If Ethereum falls below $2,770, it could trigger further selling pressure, as whale positions become vulnerable.
The current trading price of Ethereum is $2,908, up by 1.5% in the past 24 hours, hovering near the leverage zone.

Ethereum

Maintaining stability above $2,835 is crucial for preventing a larger breakdown. A breach below $2,770 may lead to a significant price decline.