Ethereum Price Stalls Below $1,600 Amid Market Uncertainty
Ethereum is currently trading around $1,580, down 21% from the key $2,000 mark, following weeks of selling pressure. The market shows extreme indecision, with prices compressed and minimal movement over the past two days, indicating a potential upcoming breakout or breakdown.
Key points include:
- Bulls need to reclaim the $1,850 resistance zone for a trend reversal.
- A drop below $1,500 could lead to deeper losses.
- Global trade tensions and macroeconomic uncertainties impact investor sentiment.
- Current low volatility suggests a significant price move may be imminent.
- ETH must break above the 4-hour 200-day moving average and exponential moving average to signal recovery.
- Failure to maintain support above $1,550 risks pushing ETH below $1,500.
The next decisive move will likely determine whether bulls regain control or sellers push prices lower.
