Why Is Ethereum ($ETH ) Crashing Today?
Market Turmoil Sparks ETH Pullback
Ethereum ($ETH ) is facing sharp downward pressure today, slipping 1.5% amid a wave of liquidations and surging volatility. Despite high investor interest, the bearish sentiment has gained ground, triggering a swift downturn in price.
Heavy Liquidations Shake the Market
Within the last 24 hours, Ethereum plunged from $1,840 to $1,785, briefly recovered, then fell again—now hovering around $1,803. Trading volume spiked to $10.52 billion, up 12%, pointing to intense market activity.
A staggering $37.45 million worth of ETH positions were liquidated, mostly from overleveraged longs. As prices dipped, open interest also declined, signaling that traders are exiting positions prematurely amid mounting losses.
Technical Breakdown and Support Levels
ETH is now testing a critical support zone between $1,772 and $1,824. If it breaks below $1,774, a slide toward $1,500 becomes more likely. On the other hand, holding this range could trigger a recovery toward $2,000 or even higher.
Sentiment Remains Split
While the broader crypto market struggles, Ethereum’s trajectory is caught between bearish technicals and long-term optimism. Recent comments from Ethereum co-founder Vitalik Buterin regarding Layer-2 security have also added uncertainty to the mix.
However, some analysts point to strength in the ETH/BTC trading pair, hinting at renewed confidence in Ethereum compared to Bitcoin. A potential breakout from a falling wedge pattern could set the stage for a rebound if buying momentum returns.
Market Turmoil Sparks ETH Pullback
Ethereum ($ETH ) is facing sharp downward pressure today, slipping 1.5% amid a wave of liquidations and surging volatility. Despite high investor interest, the bearish sentiment has gained ground, triggering a swift downturn in price.
Heavy Liquidations Shake the Market
Within the last 24 hours, Ethereum plunged from $1,840 to $1,785, briefly recovered, then fell again—now hovering around $1,803. Trading volume spiked to $10.52 billion, up 12%, pointing to intense market activity.
A staggering $37.45 million worth of ETH positions were liquidated, mostly from overleveraged longs. As prices dipped, open interest also declined, signaling that traders are exiting positions prematurely amid mounting losses.
Technical Breakdown and Support Levels
ETH is now testing a critical support zone between $1,772 and $1,824. If it breaks below $1,774, a slide toward $1,500 becomes more likely. On the other hand, holding this range could trigger a recovery toward $2,000 or even higher.
Sentiment Remains Split
While the broader crypto market struggles, Ethereum’s trajectory is caught between bearish technicals and long-term optimism. Recent comments from Ethereum co-founder Vitalik Buterin regarding Layer-2 security have also added uncertainty to the mix.
However, some analysts point to strength in the ETH/BTC trading pair, hinting at renewed confidence in Ethereum compared to Bitcoin. A potential breakout from a falling wedge pattern could set the stage for a rebound if buying momentum returns.
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ETH
2,562.4
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