- Ethereum (ETH) fell 19.43% in 24 hours to $1,452.
- Market capitalization fell to $17.531 billion, and volume surged 405% to $3.231 billion.
Today, Ethereum’s value fell sharply to $1,452.78, resulting in a 19.43% drop over a 24-hour span. Its market capitalization is now down $1753.1 billion, a percentage worth roughly equally worth. However, despite this price decline, trading increased 405.03% in days to $323.1 billion. Therefore, the market capitalization is 18.21%, indicating extremely intense short-term trading pressure.
The rest of the cryptocurrency market experienced a similar slip. Total market capitalization fell 11.04% to $2.37 trillion, while overall trading volume rose 213.34% to $1313.6 billion. This high volatility led to cascade of liquidation across ecosystems.
Most interestingly, after ETH violated $1,650, the whale holding a 67,500 ETH leveraged position valued at about $105 million has been fully liquidated. The injection of 2,160 ETH as collateral to protect its position proved insufficient to lower prices.
Does Eth bounce?
Technically, Ethereum has surpassed major support levels. The latest candle shows a quick move from $1,543.69 to a low of $1,411.01 before closing at $1,422.39. The next important support threshold will remain close to the $1,380 mark.
If your ETH reaches $1,300, you have seen a violation below this level. Resistance returning strength in the $1,560 zone. If the Bulls get it back, the token may try to recover towards $1,650, but the method remains unknown under current macro pressure.
The instantaneous indicator actually supports downward movement. The relative strength index (RSI) fell significantly to 13.50 at the depth of the zone sold. The current moving average line is close to 36.83, indicating how steep the decline is. This divergence is wide and indicates that the downtrend is likely to be fully extended due to weak buyers.
Chaikin Money Flow (CMF) also illustrates a pessimistic scenario by printing numbers -0.36. This value indicates that a significant amount of capital departure occurs due to a decrease in trader beliefs. In this environment, even temporary rebounds can suffer from strict resistance, unless mood changes between markets.
With circulating supply of 120.67 million ETH locked and total supply locked, Ethereum is multiplying the future for macro recovery from all angles with its own internal stability.
