Ethereum ($ETH) Plunges Toward $2,200 Support: Market Overview
Ethereum ($ETH) has faced a sharp downturn, dropping over 8% in the last 24 hours to test critical support around $2,200. The sell-off is largely driven by broad declines in U.S. tech stocks, major liquidations across crypto derivatives markets—totaling over $210M with $179M in long positions wiped out—and nearly $100M in net outflows from U.S. Spot ETH ETFs on Nov 5.
With the Relative Strength Index (RSI) hovering under 40, buying momentum remains weak and market sentiment has shifted back into the "Fear" category. A breakdown below the $2,200 key support zone could open the doors for a retest of $2,000.
$ETH BTCSOL
#Ethereum #CryptoMarket #CryptoNews #BinanceSquare #ETH
Ethereum ($ETH) has faced a sharp downturn, dropping over 8% in the last 24 hours to test critical support around $2,200. The sell-off is largely driven by broad declines in U.S. tech stocks, major liquidations across crypto derivatives markets—totaling over $210M with $179M in long positions wiped out—and nearly $100M in net outflows from U.S. Spot ETH ETFs on Nov 5.
With the Relative Strength Index (RSI) hovering under 40, buying momentum remains weak and market sentiment has shifted back into the "Fear" category. A breakdown below the $2,200 key support zone could open the doors for a retest of $2,000.
$ETH BTCSOL
#Ethereum #CryptoMarket #CryptoNews #BinanceSquare #ETH
