Ethereum (ETH) $2,488.87under sales pressure for a while. ETH, which has gained a limited value of 0.76 percent in the last 24 hours, is traded at $ 2,559 at the time of the news. Despite the high -volume purchases of the Bybit stock exchange, market sensitivity in the King of Altcoin is extremely negative. Technical indicators keep the probability of falling to the level of 2 thousand 200 dollars on the agenda.
Bybit’s ETH purchases do not support the price
Bybit Stock Exchange after a $ 1.7 billion hack attack last week Ethereum Coin It aims to stabilize its operations by making purchases. Finally, on February 25, 36 thousand 893 ETH (87.5 million dollars) BybitIn the last four days, a total of 212 thousand 101 ETH (574 million dollars) has accumulated. However, these purchases were not enough to refresh the confidence of the market.
Ethereum’un transaction volume recorded in the last 24 hours with a decrease of 38.6 percent, the price is difficult to recover. Analysts say that Bybit’s high -volume ETH purchases do not contribute to the recovery of the price. This shows that the market is generally under sales pressure.
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Ethereum Coin may drop to 2 thousand 200 dollars according to technical analysis
Ethereum price Losing critical support levels and decreases signals. For the time being, ETH is traded below the 200 -day exponential moving average. This technique shows that the market is following a downward trend.
According to technical analysis altcoin The price of the king is likely to decline to 2 thousand 200 dollars. If this support level cannot be maintained, the decline may continue to $ 2,000. If buyers do not enter the market, sales pressure is expected to increase further.
Market sensitivity and derivative positions in Ethereum
The movements in the derivative markets also cause pressure on the price of Ethereum. Investors according to CoNSS data EthHe estimates that he will fall. 2 thousand 355 and 2 thousand 458 dollars of a total of 247 million dollars of Long position and $ 296 million Short position.
The existing table reveals that the market is mainly expected to decline. If the price of Ethereum decreases further, the liquid positions will be liquidated. This may cause the decline to accelerate.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
