The next major support level for Ethereum (ETH) has been set at $1,290, and a move below this level could pose significant risks for investors.
According to the CryptoQuant analyst, Ethereum (ETH) investors are currently holding Ethereum at an average price of $2,200, and the vast majority are currently experiencing losses. This situation indicates a period of continued decline in the Ethereum market.
The next significant support level for Ethereum is around $1,290. This price represents the average cost level of "whales" holding more than 100,000 Ethereum, (whales). If Ethereum declines to this level, further selling pressure may be seen in the cryptocurrency market.
During the previous major crisis, on June 18, 2022, during the collapse of Terra (LUNA), Ethereum had declined to as low as $870, showing signs of recovery. This indicates that even at low price levels, Ethereum can occasionally exhibit a strong recovery tendency.
According to the analysis made by the CryptoQuant analyst, the support level around 1,290 dollars is a very critical point when looking at the historical performance of Ethereum. The possibility of a decline to this level could provide an opportunity for Ethereum to recover in the short term.
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Where Will the Ethereum Plummet End? This Price Is Very Important! - Coin Bulletin
The next major support level for Ethereum (ETH) has been set at $1,290, and a move below this level could pose significant risks for investors.
According to the CryptoQuant analyst, Ethereum (ETH) investors are currently holding Ethereum at an average price of $2,200, and the vast majority are currently experiencing losses. This situation indicates a period of continued decline in the Ethereum market.
The next significant support level for Ethereum is around $1,290. This price represents the average cost level of "whales" holding more than 100,000 Ethereum, (whales). If Ethereum declines to this level, further selling pressure may be seen in the cryptocurrency market.
During the previous major crisis, on June 18, 2022, during the collapse of Terra (LUNA), Ethereum had declined to as low as $870, showing signs of recovery. This indicates that even at low price levels, Ethereum can occasionally exhibit a strong recovery tendency.
According to the analysis made by the CryptoQuant analyst, the support level around 1,290 dollars is a very critical point when looking at the historical performance of Ethereum. The possibility of a decline to this level could provide an opportunity for Ethereum to recover in the short term.