Ethereum (ETH) has difficulty getting rid of the decline tendency, although it has given signals of recovery in recent weeks. It is currently trading at $ 1.936 and is trying to hold on to the $ 1.862, the critical support level. However, decreasing volatility and weakening market interest may even lower the ETH price. Technical indicators and investor behaviors show that Ethereum may fall to the lowest level of 17 months.
ETF outputs pose a risk for Ethereum
Ethereum Spot ETFs are experiencing big exits. In the last 48 hours, 49,000 ETHs were withdrawn from ETFs, which reveals that corporate investors have lost confidence in the short -term future of Ethereum. Increased exits confirming that market sensitivity to Ethereum is negative and that investors avoid risk.
Although there are entries to ETFs at times, the effect of these inputs is limited because the amount of output is much higher. The belief of the market in the recovery of Ethereum is reduced, which may cause the price to tend to decline. If this trend persists, Ethereum may lose significant support levels and create a new footplace.
Technical indicators point to decline
Technical indicators also reveal the difficulties in front of Ethereum. Bollinger bands began to shrink, which indicates that there may be a strong movement in the market soon. Historically, the price of Ethereum, which is on the lower line of Bollinger bands, usually experienced downward breaks. If this model is repeated, ETH may see a harsh decline in the coming days.
Despite Ethereum’s efforts to recover, the lack of momentum continues. Although the price tries to make upward moves several times, technical data shows that market pressure continues. If this trend does not change, Ethereum will be increasingly difficult to hold on to the current levels and lower support points will be tested.
Can Ethereum drop to $ 1,500?
Ethereum depreciated 33 %in the last month, and the sharp decreases in the end of February and early March made investors anxious. It is currently traded at $ 1.936, but it may be a great danger to go below the most critical support level $ 1.862. If ETH loses this support, the price may decline to $ 1.745.
This level will be the lowest point of the last 17 months for Ethereum and may cause investor confidence to be further shaken. If the sales pressure continues to increase, it is possible for Ethereum to decline to $ 1,500. In particular, the negativities in weak ETF inputs and technical indicators show that the downward risks outweigh.
Liberation scenario for Ethereum
However, the possibility of Ethereum recovery has not completely disappeared. The upcoming Pectra update can revive the interest of corporate investor. If this update increases ETF inputs and increases the investor confidence, it may be possible for Ethereum up to $ 2.141. However, for such a recovery, there is a strong volume increase in the market and new investor interest. Ethereum’s price movements should be closely monitored. If critical support levels are broken, the acceleration of the decrease may accelerate. However, if a powerful purchase wave arrives on $ 1.862, the price of ETH may move upwards again and the recovery process may begin.
