Ethereum Price crashed this year and hover almost at the lowest level since September last year.
Ethereum (ETH) traded from more than $ 2200 on the last check on Sunday, decreasing by more than 45% from the highest point in November last year. Several important schedules explain why the price of ETH crashes, and gives hints of what to expect this year.
Ethereum price has formed a triple vertex scheme
The weekly schedule shows that the price of ETH discovered strong resistance at about $ 4,000 in 2024. This template is characterized by three peaks and a cutout and is one of the most bearish models in the market.
This has now fallen on a neckline at $ 2150. Consequently, a clear gap below this level risks more disadvantages, potentially up to 1176 US dollars, by 45% of the current level.
Spot Eth ETF have an outflow
Meanwhile, Spot ETF had a significant outflow over the past few weeks.
And although these funds attracted a cumulative influx of $ 2.82 billion, this is a much smaller figure compared to 38 billion dollars of Bitcoin.
Ethereum Steplaing Offlows rises
This Price also crashed as the outfills grow. The Stakingreards data show that market capitalization has fallen 20% over the past seven days to $ 74.5 billion. USA. He had an outflow over the past four consecutive days.
A good example of this is LIDO, the largest liquid network in crypto -industrialism. The total cost of the Lido fell from more than 10.1 million floor to 9.41 million.
Ethereum balances on exchanges
In addition, there are signs that more and more investors are selling their ETH coins. One way to find this is to consider the remains on the exchanges. Coinglass data show that the remains have increased over the past few days. These remains have grown to 15.40 million, which is the highest level from February 1.
Ethereum fee fell
In addition, the price of Ethereum has fallen because it is no longer the most profitable player in the crypto industry. This year, Ethereum earned $ 198 million, which means that he was overtaken by other players in the crypto industry, such as Uniswap (UNI), Circle, Solana (Sol), Jito (JTO) and Tron (TRX).
Other diagrams explain the continued accident in the price of ETH. For example, this diagram shows that Ethereum loses the market share in the DEX industry, where level-2 networks are fighting, such as Arbitrum and Base. Another Santiment table shows that Ethereum Whales sell a coin.
