Crypto Exchanges
By Julie Binoche
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The $1,800 Wall Keeps Holding. Zoom into the 4-hour chart and you get a cleaner picture of how this rejection played out.
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Institutional Demand Is Basically Absent. The technical picture is bad enough. But the sentiment data makes it harder to feel optimistic…
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Where Things Could Break Either Way. So what actually changes the picture? A few things would need to go right at the same time.
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Ethereum can't catch a break. The second-largest crypto asset by market cap has been grinding lower for months, and right now it's basically trapped — bouncing off $1,500 support…
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After losing the $1,850 support level — a price that had held for a while before flipping into resistance — ETH slid hard toward the $1,500 zone.
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Zoom into the 4-hour chart and you get a cleaner picture of how this rejection played out. After the drop to $1,500, ETH put together a rising channel — higher lows, a bit of…
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Immediate support is still $1,500. That's where the recent rebound started, and that's where things get dangerous if the selling picks back up.
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For buyers to really change the narrative here, they'd need to reclaim $1,800 and then break above the descending channel itself. Short of that, the trend still favors sellers.
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The Coinbase Premium Index — which tracks the price gap between ETH on Coinbase versus other exchanges — has been running below zero, closing in on -0.1.
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Read also: Ethereum Sellers Grip Coinbase Premium Index While Bitcoin Eyes $60K Floor
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And that's exactly what's been happening. The declining premium has moved in lockstep with Ethereum's price drop, which isn't a coincidence.
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U.S. investors, at least the institutional ones, haven't come back in any meaningful way. That's a real problem for anyone hoping Ethereum breaks out of this channel soon.
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Ethereum needs to hold $1,500. That's the floor. If it cracks, the next real support is a long way down, and the descending channel's lower boundary below $1,200 becomes the…
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On the upside, a clean break above $1,800 — not just a test, but a real sustained move through it — would be the first sign that something's shifting.
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Related: Bitcoin Options Worth $1.9 Billion Expire as Prices Slide Toward $62,800
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