The ethrium price has crashed this year and has been hovering near its lowest level since September last year.
Ethereum (Eth) was trading above $ 2,200 in the previous check on Sunday, which was more than 45% from its highest point in November last year. Many important charts explain why the ETH price has crashed, and gives signs of expectation of this year.
Etharium value formed a triple-top pattern
The weekly chart suggests that the ETH price received a strong resistance at around $ 4,000 in 2024. This pattern features three peaks and a neckline, and is one of the most recession patterns in the market.
Eth has now fallen on the neckline for $ 2,150. Therefore, a clear break below that level is more negative risk, potentially by $ 1,176, below 45% from the current level.
Spot Ath ETF
Meanwhile, Spot ETH ETF has had sufficient outfits in the last few weeks.
And while these funds have attracted the cumulative flow of $ 2.82 billion, it is a much smaller figure than $ 38 billion of bitcoin.
Ethereum staking outfits
The price of Eth has also crashed, as stacking outflow has increased. Data by stakingrewards suggests that the staking market cap has come down by 20% to $ 74.5 billion in the last seven days. It has been outlined in the last four straight days.
A good example of this is Lido, the largest liquid staking network in the Crypto industry. The total value of the lido is closed.
Etharium balances on exchanges are increasing
In addition, there are indications that more investors are selling their ETH coins. One way to find it is to consider the remaining amount on exchanges. Data by coinglass shows that the remaining amount has increased in the last few days. These balances increased by 15.40 million, the highest level since February 1.
Etharium fee has fallen
In addition, the price of atherium has fallen as it is no longer the most profitable player in the Crypto industry. Etharium has earned $ 198 million this year, which means that it has been carried forward by other players in the Crypto industry such as Uniswap (Uni), Circle, Solana (Sol), Jito (JTO), and Tron (TRX).
Other charts explain the running ETH price accident. For example, This chart Shows that Etreum Dex is losing market stake in the industry, where layers -2 networks such as intermediary and base are struggling. Another chart by Satisfaction Shows that atherium whales are selling coin.
