ETH hangs by a thread at the 2500 mark, once lost it may plunge directly into the abyss!
CryptoQuant sounds the alarm: $2,500 is the most critical lifeline for Ethereum at the moment. If it breaks down, market sentiment may instantly reverse, potentially triggering a chain reaction of sell-offs, leading to a significant 'plunge'.
Currently, the range of $2392–$2532 is a typical zone of dual support from both behavior and technical analysis, which is the cost zone for a large number of speculative users. Once it falls below this, these individuals will be overall facing unrealized losses—without a psychological barrier, panic selling will ensue.
Looking at the liquidity data from Binance, as it is the largest trading pool for Ethereum, the actual transaction price of its users is exactly at this support level. Therefore, whether the support on Binance holds or not basically determines whether the entire market will collapse.
