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Ethereum Stumbles 9% – Is This a Dip or Deeper Trouble?
1-Ethereum has fallen over 9%, slipping into the $2.1K zone.
2-The market experienced a surge in liquidations, with $195.40 million worth of ETH wiped out.
The crypto market cap has shed 5.31% to $2.67 trillion, weighed down by increased selling pressure. Bitcoin inches closer to $79.8K, while the largest altcoin, Ethereum (ETH), extends its decline, consolidating losses near the crucial $2K support level.
ETH is forming a sturdy bearish trend line, and it could start a recovery wave only if it moves above $2,200. The altcoin has attempted to maintain the upside correction but experienced a steep decline due to a broader market downturn.
Following a 9.81% decline, ETH has been trending downwards. The price of the altcoin was unable to cross the $2,424 resistance level. Ethereum fell to $2,128 within the past 24 hours, with an initial high of $2,378 before the pressure from bears dominated.
