Altcoins News
By Sakamoto Nashi
1 / 15
Ethereum can't hold $2,000. The second-largest cryptocurrency by market cap briefly poked above that psychological level on February 11 but quickly retreated, leaving traders…
2 / 15
After failing to keep gains above $2,120, Ethereum dropped hard and now trades under $2,050 and its 100-hour Simple Moving Average.
3 / 15
Ethereum found some support above $1,950 earlier and tried to bounce back. It managed to push past $1,980 and $2,020 levels before spiking briefly above $2,140.
4 / 15
Right now, Ethereum trades under $2,050. Immediate resistance sits near that level, but the contracting triangle pattern shows the first real resistance at $2,065.
5 / 15
But here's the thing - if Ethereum can't break $2,065, more declines are coming. Initial support sits around $2,000, which is basically where we are now.
6 / 15
Technical indicators don't look great either.
7 / 15
The hourly MACD is gaining bearish momentum while the RSI sits below 50, showing weakened bullish momentum.
8 / 15
Kraken's data feed shows how important the $2,000 level has become for traders. It's acted as a pivot point in recent sessions, and a sustained move below could trigger more…
9 / 15
Analysts at CoinDesk think current market sentiment is pretty cautious. They're pointing to Ethereum's recent price swings and its inability to hold momentum above $2,120 as…
10 / 15
Trading volumes over the past week reflect mixed sentiment. Binance data shows a slight decline in buy orders, suggesting traders want clearer signals before committing to new…
11 / 15
Sarah Thompson from CryptoCompare thinks Ethereum's failure to hold above $2,120 shows potential weakness in buying interest at higher levels.
12 / 15
Coinbase data reveals trading volumes for Ethereum saw a modest uptick recently. Short-term traders are taking advantage of price swings, with significant transactions occurring…
13 / 15
Institutional investors remain cautious too. Grayscale's latest Ethereum Trust filings show a steady holding pattern, reflecting a wait-and-see approach as the market works…
14 / 15
Glassnode's February 11 report showed the number of active Ethereum addresses stayed relatively stable despite recent price swings.
15 / 15
Binance CEO Changpeng Zhao said in a recent interview that Ethereum's current price levels depend on broader market dynamics, particularly Bitcoin's performance.
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