$ETH price at risk - WARNING🚨
Ethereum could face another painful drop, and the reason goes beyond crypto itself. Fundstrat co-founder Tom Lee has warned that South Korea’s stock market crash could create fresh selling pressure across digital assets. On October 13, the KOSPI plunged more than 6%, raising concerns that investors facing losses in stocks might sell their crypto holdings to raise cash.
ETH was trading around $2,510 after falling 6.16% over the past week. If selling pressure continues, the $2,400–$2,450 zone could become a critical support area. A breakdown below $2,400 may open the door toward $2,200. However, if buyers regain control and push ETH above $2,550 and $2,600, a recovery toward $2,750–$2,800 could become possible. Meanwhile, BitMine added another 12,532 ETH, bringing its reported holdings to more than 6 million tokens. But the company has indicated that its buying pace may slow as it approaches its 5% ownership target.
Technical indicators also suggest that Ethereum’s bullish momentum is weakening. If financial pressure spreads from South Korea into crypto markets, ETH could experience more volatility in the coming days. Still, this scenario is not guaranteed. Will Ethereum defend $2,400, or are traders preparing for another leg down?
$ETH
Ethereum could face another painful drop, and the reason goes beyond crypto itself. Fundstrat co-founder Tom Lee has warned that South Korea’s stock market crash could create fresh selling pressure across digital assets. On October 13, the KOSPI plunged more than 6%, raising concerns that investors facing losses in stocks might sell their crypto holdings to raise cash.
ETH was trading around $2,510 after falling 6.16% over the past week. If selling pressure continues, the $2,400–$2,450 zone could become a critical support area. A breakdown below $2,400 may open the door toward $2,200. However, if buyers regain control and push ETH above $2,550 and $2,600, a recovery toward $2,750–$2,800 could become possible. Meanwhile, BitMine added another 12,532 ETH, bringing its reported holdings to more than 6 million tokens. But the company has indicated that its buying pace may slow as it approaches its 5% ownership target.
Technical indicators also suggest that Ethereum’s bullish momentum is weakening. If financial pressure spreads from South Korea into crypto markets, ETH could experience more volatility in the coming days. Still, this scenario is not guaranteed. Will Ethereum defend $2,400, or are traders preparing for another leg down?
$ETH