Ethereum Price Drops to $1,769 Amid Market-Wide Bearish Conditions
Ethereum's price fell below $1,800, reaching $1,769, amid bearish market conditions. Key points include:
- ETH is down 19% in the last 30 days.
- Current trading is 35% below its 200-day EMA.
- If ETH falls below $1,750, it may target $1,600; a break above $2,100 is needed for bullish momentum.
- ETH spot ETFs recorded a net inflow of $4.7 million after four weeks of outflows, totaling around $410 million in outflows this month.
- 24-hour liquidations reached $66.5 million, with over $55 million from long positions.
- The largest single liquidation order was worth $13.3 million on Binance.
- The global crypto market cap declined by 1.8% to $2.64 trillion.
A potential market recovery could positively impact ETH despite current negative indicators.