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»ALTCOIN NEWS»Why Ethereum Needs to Break $2,500 to Turn Bullish Again
ALTCOIN NEWS

Why Ethereum Needs to Break $2,500 to Turn Bullish Again

By Crypto FlexsAugust 5, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Why Ethereum Needs to Break ,500 to Turn Bullish Again
Share
Facebook Twitter LinkedIn Pinterest Email
  • The January low that triggered the rally to $4,000 was tested again in the early hours of July 5.
  • It’s still too early to say whether Ethereum has bottomed, but investors can wait until next week for more clarity.

Ethereum (ETH) has crashed to its lowest level since January in the past few hours, falling below 2.9k and then falling 27.5% over the next 12 hours.

At the time of writing, ETH has bounced from a low of $2,100 to $2,366, up 12.17%.

Smart investors who bought close to $20 million when prices were $2,900 to $3,100 were wrong this time, and the previous perfect performance was clouded.

The launch pad for the February rally was tested again.

Ethereum 1-day chart

Source: ETH/USDT on TradingView

The price crash of the past few days has been brutal. In just 24 hours, $346.5 million worth of Ethereum liquidations occurred on the Ethereum market. The daily RSI has fallen to 19, the lowest since August 18, 2023.

The daily session is not yet closed, but as things stand, the rally from earlier this year has completely regressed. The $2.5k-$2.6k zone is likely to act as resistance on the way up.

OBV has made a new low to implement the idea of ​​extreme selling. The trading volume for the day was 1.55 million ETH and continues to increase to reach a 2024 high.

While this may be a good reason to buy, conservative traders and investors would like to see the price reclaim key support and hold above it for a few days before they feel confident enough to bid up.

The futures market has wiped out ETH traders en masse.

Ethereum Coin AnalysisEthereum Coin Analysis

Source: Coinalyze

This market crash is not a good time to engage in leveraged trading, and over 270,000 crypto traders learned this over the weekend. Open interest has fallen from $9.9 billion on August 3rd to $7.35 billion at the time of writing.


Is your portfolio green? Check out our ETH yield calculator


Spot CVD fell deeper, supporting the idea of ​​a strong selloff. Liquidations over the past few days have been mostly long, as expected.

A bounce to $2,500 is possible, but selling pressure could mount in the New York trading session.

Disclaimer: The information presented does not constitute financial, investment, trading or any other type of advice and is solely the opinion of the author.

Next: Why the Crypto Markets Are Crashing? Liquidations Hit $1 Billion in 24 Hours!

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

SEI tokens have soared more than 100% in June -the highest catalyst explained.

June 26, 2025

$ 438m XRP Transfer Sparks Panic- Ripple?

June 19, 2025

Solana Price Eyes 103% Rally $ 300: Here is the reason.

June 12, 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

EthosX secures $1.8 million in funding from top investors

December 14, 2023

FuturePlay Crypto Casino Launches: Pioneering ‘Machina Sports’ Will Revolutionize iGaming in 2023!

December 19, 2023

“Dare to Double” Contest – Double Your Account in March

February 27, 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.