Ethereum experienced a pointed decline yesterday when the wider cryptocurrency market fell. ETH prices fell by more than 9% in just a few hours, shaking investors’ trust and increasing the concerns about the potential deeper correction. The sudden slowdown caused fear on American markets, increasing the uncertainty that on Monday morning defeated the cryptographic space.

The best cryptographic analyst Carl Runefelt divided the technical analysis of X, throwing lightweight on the uncertain position of Ethereum. According to Runefelt, Ethereum can test the support level of USD 2800 if the market today continues its inheritance trajectory. This key level can serve as a critical moment for ETH, because loss can lead to further decline and increased sales pressure.

Market sentiments have contributed, and many investors have prepared for increased variability in the coming days. Analysts strictly monitor macroeconomic indicators and wider market movements to assess the potential impact on the price of Ethereum. When ETH floats around key support zones, the next 24 to 48 hours will be crucial to determine whether the cryptocurrency can regain the shoot or face a deeper correction. Investors are encouraged to stand carefully when the market moves this unstable phase.

Ethereum is in the face of intensive sales pressure

Ethereum has been under significant sales pressure since the end of December, reflecting the increased volatility that has overcome the wider cryptocurrency market. Analysts and investors are more and more bears, and sentiments suggest that ETH can still fall on the coming days. This complex phase raised concerns about the next assets of assets, leaving many market participants on the edge.

The best cryptographic analyst Carl Runefelt made its technical analysis available to xemphasizing the critical level of support for Ethereum. Runefelt predicts that ETH can reach a level of support of USD 2800 if the current slowdown in the market will persist. This key level can be a powerful foundation of potential recovery or further weakness signal if it is broken.

Despite the bears of sentiment, some investors and traders perceive this potential inheritance as an opportunity. Ethereum remains one of the most outstanding cryptocurrencies and many think that he is still ready for significant profits in this cycle. Correction to USD 2800 can be an attractive entry point for people of certain long -term Ethereum foundations and growth potential.

Because the market is still moving at this uncertain period, all eyes are on the price of Ethereum. Regardless of whether he stays with critical support or succumbing to additional sales pressure, he plays a key role in shaping his trajectory in the coming weeks.

The price lasts above critical support

Ethereum (ETH) currently has USD 3,050, maintaining a position slightly above the 200-day movable average, which is USD 2,988. The 200-day movable average is widely considered a long-term force indicator, and maintaining above this level can signal the potential reversal of the ongoing inheritance trend.

The market is carefully observing whether Ethereum can maintain this critical support, because it can mean the beginning of the recovery phase. Analysts emphasize that it will remain above the 200-day movable average is necessary to build a stubborn momentum and restore the investor’s trust in the miniature period.

However, maintaining support is only the first step. To confirm the reversal of trends and establish a stronger stubborn perspective, Ethereum must regain the resistance level of USD 3300. This would mean that buyers regained control, potentially paving their way to further advantage.

On the other hand, the loss of USD 2988 can lead to increased sales pressure, with the possibility of testing lower support levels. When the market is moving at this key moment, the coming days will be crucial for determining whether Ethereum can maintain the current levels and pressed on recovering higher land. For now, traders and investors remain carefully sanguine.

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