#ETHDropsBelow2400USDT ETH’s price plunged below $2,400, but is Ethereum really dying? Let’s take a look.
The chart suggests otherwise. First, ETH is currently priced at $2,425, after briefly dropping to $2,318. Ethereum’s total value locked has fallen by 3.1% over the past seven days, and most of these losses can be explained by the drop in ETH’s price. Meanwhile, stablecoins have remained steady at around $144 billion, and transaction volumes are relatively high.
The $2,318 level stands out to me—a break below it could send ETH’s price lower. 📈 Between $2,400 and $2,500—if ETH can stay above this range, the bullish scenario remains entirely possible.
In my view, what’s happening is more like a general market correction than a collapse specific to Ethereum. That said, Ethereum is indeed underperforming Bitcoin, so it’s too early to talk about a recovery.
Do you think ETH can withstand a test of the $2,300 level, or will it rise back toward $2,500?
Please follow
$ETH
The chart suggests otherwise. First, ETH is currently priced at $2,425, after briefly dropping to $2,318. Ethereum’s total value locked has fallen by 3.1% over the past seven days, and most of these losses can be explained by the drop in ETH’s price. Meanwhile, stablecoins have remained steady at around $144 billion, and transaction volumes are relatively high.
The $2,318 level stands out to me—a break below it could send ETH’s price lower. 📈 Between $2,400 and $2,500—if ETH can stay above this range, the bullish scenario remains entirely possible.
In my view, what’s happening is more like a general market correction than a collapse specific to Ethereum. That said, Ethereum is indeed underperforming Bitcoin, so it’s too early to talk about a recovery.
Do you think ETH can withstand a test of the $2,300 level, or will it rise back toward $2,500?
Please follow
$ETH