Ethereum (ETH) has recently formed a rare "death cross" on its bi-weekly chart—a bearish technical signal last seen in 2022. Historically, the previous occurrence of this pattern led to a sharp price drop of over 30%, with ETH falling from $1,750 to $1,150 within a few months.
Currently, ETH is trading around $2,447, showing a minor uptick despite a broader market pullback of about 3% in the last 24 hours. Over the past week, ETH has slipped by 2%, and it's down 8% for the month.
Traders are watching closely to see if this "death cross" will trigger another significant decline, or if ETH can hold above key support levels in the coming weeks.
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