16 hour ago
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BEARISH 📉 : Ethereum Sell-Off Pushes Price to Critical $2,150 Support
Ethereum has experienced a sharp sell-off, dropping its price to a major demand zone around $2,150. This level acts as a critical defense point, determining whether the current move is a temporary liquidity flush or the start of a deeper trend shift.
Key Insights
- Ethereum slipped below a crucial support zone, indicating increased short-term bearish momentum. However, the broader uptrend remains intact on higher timeframes.
- The price action suggests the current weakness might be corrective rather than the start of a sustained bearish phase.
- The 0.025–0.0265 BTC region is identified as a key support zone for ETH/BTC, with demand likely stepping in around this range.
- A recovery above the 0.0325 BTC level would signal the return of bullish momentum and continuation of the larger uptrend.
- Van de Poppe believes Ethereum will outperform Bitcoin over time, continuing to accumulate ETH.
Recent Developments
- Ethereum failed to hold the rising support near $2,800, causing a sell-off that drove the price to the next demand zone at $2,150.
- If buyers defend this level, the drop could be seen as a liquidity sweep leading to a market reset, possibly shifting into a consolidation phase between $2,150 and $2,700.
- Dami-DeFi notes that a meaningful bullish shift requires reclaiming $2,700 and holding above $2,850 to confirm upside attempts.
