The second largest virtual currency, Esa, has fallen by more than 20 % to bitcoin in the past six weeks. The ETHBTC ratio is only near the low level in two months, and sellers are trying to stabilize the price of $ 3,400 or less. This pressure indicates that important on -fin indicators can significantly fall and the price may fall further.
The fall of Ethereum can be short -term
Ethereum prices have responded in various ways, as both buyers and sellers are facing the liquidation. According to Coinglass, Ethereum has a 35 million dollar liquidation in the past 24 hours, of which $ 14 million has been obtained from the seller.
Intotheblock data indicates that Ethereum’s volatility has declined in the past 30 days. The significant decline in volatility suggests a decrease in trading activities, and it may be a negative sign for Ethereum because the price may fluctuate beyond the main resistance level. 。 Currently, the volatility rate is 42.6 %.
According to TradingView data, the ratio of Eth/BTC, which indicates the value of Esa for bitcoin, is 0.03194. This ratio has decreased 19 % since December 5, when Bitcoin first reached $ 100,000.
However, in the previous bullish market cycle, the ETH/BTC ratio recorded the lowest value of about 0.03 in March 2021, and increased to 0.077 within two months. During this time, Esa’s price rose 110%and reached $ 3,817.
Please read this as well: Ethereum price prediction 2025, 2026 – 2030: Is there a possibility that the price will reach $ 5,000?
It is a mistake to be bearish against Ethereum as Bitcoin spreads. Many people are paying attention to what Donald Trump the U.S. President will do with bitcoin during their term, but some people think that Ema can also indirectly benefit from a wide range of bitcoin. There is.
Apollo co -founder Thomas Farler said that if a strategic bitcoin reserve was implemented, the price of bitcoin could rise to $ 1 million now. He pointed out that this would be a plus for Esa, suggesting that the target price of $ 4,000 could be achieved.
What is next to ETH price?
The price of Ethereum has risen sharply, breaking through the previous resistance level, and is now about to surpass the latest Fibonacci channel. However, near the falling resistance line, it is exposed to selling pressure, which is a major issue for buyers. Currently, Ethereum has been traded for $ 3,343 and has risen 1.01 % in the past 24 hours.
The ETH/USDT trading pair remains slightly below $ 3,430, which can be a major hurdle. If it can be maintained beyond this level, it will be advantageous for the buyer, and the price may rise to $ 3,730 and to $ 4,000.
Conversely, if the price falls below the one -hour chart EMA20 trend line, the seller may lower the price to about $ 3,200. Nevertheless, the relative power index (RSI) is 52, suggesting that it may rise soon because it shows a continuous purchase willingness.
