Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ETHEREUM NEWS»Analysts warn of a plunge to $2,000.
ETHEREUM NEWS

Analysts warn of a plunge to $2,000.

By Crypto FlexsJanuary 23, 20244 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Analysts warn of a plunge to ,000.
Share
Facebook Twitter LinkedIn Pinterest Email

Since Ethereum (ETH) reached a high of $2,717 over the past two weeks, the asset has experienced a gradual decline, reaching a key demand area that could soon play a significant role in determining the price trajectory, according to a prominent cryptocurrency analyst. I did it.

Critical support areas indicate continued bearish movement.

Ali, a famous cryptocurrency analyst, pinpointed An important demand zone for ETH between $2,388 and $2,460. The resilience of this support level could pave the way for an upward trajectory, giving Ethereum a much-needed break from bearish pressure.

However, if Ethereum falters, a bearish pullback to the next major support level around $2,000 could be imminent. The decline represents a decline of nearly 20% from the current price near $2,300, representing a severe test of the upside stability of the Ethereum market.

#Ethereum Market updates: $ETH It is currently in a key demand area between $2,388 and $2,460. If this support remains strong, there is a clear path to the upside with minimal resistance.

⚠️ But what if #ETH If we don’t maintain this level, we… pic.twitter.com/F0HfyrSdGF

— Ali (@ali_charts) January 21, 2024

In the last 24 hours, Ethereum has lost a noticeable 4.3% in value, breaching a critical demand area for Ali. ETH is currently trading at $2,368, signaling the possibility of a further plunge from here.

ETH price is moving sideways on the 4-hour chart. Source: ETH/USDT on TradingView.com

This price drop is reflected in Ethereum’s trading volume, which has dropped significantly from $19 billion last Monday to $10 billion today, indicating reduced trading activity and a shift in investor sentiment.

Ethereum Market Dynamics: Whale Buying Declines and Dominance Rises

The current market decline has not gone unnoticed by savvy investors. According to cryptocurrency analytics platform Lookonchain, a prominent Ethereum whale took advantage of this opportunity and acquired 3,600 ETH, worth about $8.9 million.

After the price $ETH It ran out today, this smart whale bought 3,600. $ETH($8.9 million) was back at a lower price 5 hours ago.

This whale is very good at shopping $ETH We sell it at a low price $ETH At the best.

Current revenue is ~$25.8M! https://t.co/UzXbheftr1 pic.twitter.com/DannZzsQVk

— Lookonchain (@lookonchain) January 19, 2024

This strategic move is part of a larger pattern of buying low and selling high seen in the history of whale trading. The estimated revenue from this strategy is said to be $25.8 million.

Amid this weakness, Ethereum has shown resilience in terms of market power. According to a recent report by analytics firm Santiment, Ethereum’s market share relative to the overall cryptocurrency market capitalization surged by approximately 22.4% in just one week.

This growth is complemented by a significant increase in active Ethereum addresses, with an average of 89,400 new addresses joining the network each day, reaching 96,300 new addresses per day.

These numbers suggest that interest and participation in the Ethereum ecosystem is growing despite current market conditions.

📈 #Ethereum‘s price power continues to rise. #BitcoinNow it’s +22.4% in one week. There were 89.4K new items during this period. $ETH There are 96,300 addresses created per day and 96,300 wallets just yesterday. Additionally, the supply of the asset with the second largest market capitalization is

(Continued) 👇 pic.twitter.com/9nHC6PJPy

— Santiment (@santimentfeed) January 16, 2024

Featured image by Unsplash, chart by TradingView

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Crypto Scam Markets thrives again after attempting to clean up Telegram.

June 24, 2025

Bitcoin is more than $ 104K as the merchant’s eyes move from H2 to $ 145,000.

June 20, 2025

Can Etherrium price return to $ 4,000? Analysts say that ETH should go beyond this support.

June 16, 2025
Add A Comment

Comments are closed.

Recent Posts

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025
Most Popular

Nocturne Crypto Ends New Venture Version 1

January 23, 2024

Is an Ethereum price rebound at risk? Decoding the key obstacles to new growth

November 28, 2023

Solana (SOL) rival expected to grow 15 times in the first quarter of 2024

February 3, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.