Ethereum Down 6%, Trader Laments: 'Just Sad... I Don't See Any Reversal Coming Anytime Soon'
Portfolio Pulse from Ivan Crnogatić
Ethereum (ETH) is experiencing a significant downturn, with a 6% drop in the past 24 hours, trading around $3,250. Traders Altcoin Sherpa and ColdBloodedShiller have expressed pessimism regarding ETH's immediate future, noting its underperformance compared to Bitcoin and a crucial loss of the RSI 50 level. Analyst Ali Martinez predicts a further drop to $2,800 if the $3,400 support level fails. This downturn is part of a broader market correction ahead of the Bitcoin halving.
April 02, 2024 | 6:56 pm
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Ethereum faces a significant downturn, with pessimistic views from traders and analysts predicting further declines. The asset is currently trading around $3,250, with potential to drop to $2,800.
The article directly mentions Ethereum's current price drop and the pessimistic outlook from traders and analysts. The specific mention of a potential further drop to $2,800 if the $3,400 support level fails, along with the broader market correction context, suggests a negative short-term impact on Ethereum's price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100