Ether Lee’s indigenous token, ether (ETH), continues to integrate less than $ 2,000, and some traders consider psychological levels. The ether price slipped under this range on March 10, and Altcoin has been trading with the lowest value since October 2023.
Ether Leeum 4 hours chart. Source: COINTELEGRAPH/TradingView
Ether Price has also lost its market value in connection with other major Altcoins, and the XRP price has reached the highest level for ETH in five years on March 15.
The actual question between investors is whether ETH can recapture some of the recent losses, or if the trader will surrender if the price is less than $ 1,900.
If the price drops below $ 1,900, the Etherrium trader can surpass the ship.
According to the data of the data analysis platform, INTOTHEBLOCK, Ethereum holders have accumulated 3.56 million ETH between $ 1,900 with an average price of $ 1,871 to $ 1,843. Therefore, the current value is currently $ 66.5 billion. This has a strong level of support between $ 1,900 to $ 1,843, which can potentially serve as a strong reversal zone.
Ether Leeum/Out of Don Chart. Source: x.com
But if the ether falls to less than $ 1,843, the data points out the possibility that the surrender fear will rise. Capitulation is a market sentiment that tends to be embarrassed by investors. If ethics are integrated for a long time of less than $ 1,843, the deeper calibration is exponentially.
Less than $ 1,843, the size and amount of fuel accumulation are quite low, showing more importance of support range of $ 1,900 ~ $ 1,843.
Similarly, the proportion of Etherrium addresses according to profits has fallen to the lowest level since early 10 years. It is the lowest value of less than 46%since December 2022.
ETH: profit address ratio. Source: X
The low proportion of profitable addresses historically exhibited the price of Ether Leeum. As high ethical accumulation and profitable addresses decrease, these factors can act as an optimistic signal. As a result, the likelihood of integrating Etherrium to less than $ 1,843 in the long run is decreasing.
HITESH MALVIYA, the founder of Dyor Crypto, said, “It is not a good time to weaken the ETH. In the X post, Malviya recently emphasized the rise of real assets (RWA) in the industry, and growth over the past 30 days has increased by 50.9%, and Ether Leeum and ZKSYNC accounted for more than 80% of the total market share.
RWA’s market share for L1. Source: X
Related: 50%-Bitcoin ‘Rulish Cross’ with the average return.
Etherrium long -term/short ratio represents a neutral market.
Alphractal, an encryption data analysis website, has reviewed ETHER’s current market sentiment based on the road/short ratio, and is an indicator of the future traders’ ratio of price hikes (long).
Whale vs. sleeves hit map. Source: X
According to the chart above, the largest investors are in charge of long positions, while small investors are in the Dives process. DELEVERAGING means releasing dangerous and borrowed positions, which lowers market volatility and interest in leverage transactions.
If the current ratio is 1.3, the long/short ratio represents a balanced market. Alphractal has been added.
“In the short term, Etherrium is interested in low volatility and leverage, which indicates that many merchants can be exhausted and inadequate.”
Related: Ethereum Onchain data suggests that the price of $ 2K ETH does not reach the current range.
This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.