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While Ethereum (ETH) continues to undergo a significant slowdown in prices, recording a decrease of 17% in the last month, key resistance levels emerged as critical points for the second largest cryptocurrency. Analysts suggest that these levels could ignite a potential tendency inversion in the event of recovery.
Ethereum faces a potential decrease at $ 1,155
In a recent update Shared on the social media platform X (formerly Twitter), the Crypto Ali Martinez analyst highlighted two pivot prizes for the immediate future of Ethereum.
The first, set at $ 2,100, is considered a threshold necessary to launch a new upward trend. However, the $ 2300 mark is considered a “more decisive” level than Ethereum must violate to confirm a bullish reversal.
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The analysis of Martinez, based on the graph of a day observed below, indicates that if Ethereum does not resume these levels, this can lead to a new drop.
The following target points to watch would be $ 1,600 and $ 1,155, levels that could indicate a new downward trend. Such a drop would respectively represent additional losses of 12% and more than 37%, marking a disturbing continuation of the worst first quarter of Ethereum in its history.
In another jobThe analyst also stressed that the Ethereum price faces a significant resistance wall between $ 2,200 and $ 2,580. The chain data of the intotheblock analysis company reveal that around 12.43 million investors bought approximately 66.18 million ETH in this price range.
An escape above these levels could potentially generate a bullish momentum for cryptocurrency. However, the bullish catalysts that could trigger a decision above these levels remain rare among the experts.
The largest ethn accumulation area under the threat
The Glassnode market intelligence has noted This basic distribution of ETH costs shows limited support near current prices. Weekly data suggest that addresses with a cost base of around $ 1,800 have not been re -engaged. Many investors would sell at a loss, which has increased the current uncertainty of prices more.
On March 28, several clusters of around 250,000 ETH with cost bases between $ 2,000 and $ 2,050 actually disappeared, indicating that some higher cost holders try to reduce their positions on average.
However, Glassnode claims that the overall area of ​​Ethereum accumulation seems limited to current price levels, which raises questions about future stabilization for the second largest cryptocurrency.
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Biggest accumulation area Below the current market price is now at $ 1,537, where nearly 994,000 ETH have been acquired. If the downward trend continues, this level should serve as short -term structural support, potentially offering a stamp against additional declins.
ETH is currently negotiated at $ 1,830, down 12% for the week.
Dall-e star image, tradingView.com graphic
