The price of the atherium fell into Asia of about $ 2,300 on Monday morning at a five-month low of about five months, as a global trade war viewer triggers a risk-feeling, harassing investors.
Atraium (ETH) fell 23.6% to $ 2,368 to fall down to $ 2,368 after US President Donald Trump announced trade tariffs on China, Canada and Mexico over the weekend.
High import tariffs can increase inflation, possibly leading to high interest rates. This, in turn, triggers a risk-closing feeling, which put pressure on the prices of cryptocurrency.
As a press time, the Altcoin market fell by 28% to about $ 1.07 trillion, with many major altcoins such as XRP (XRP), Solana (SOL), DOGECOIN (DOGE), and Cardano (ADA), among others Recording is involved in deficit. %In the last day.
Ethereum experienced its greatest liquidation incident in the last two years, with liquidation from $ 475.72 million long positions and $ 127.78 million from shorter posts in the last 24 hours. During the same period, open interest in its futures market fell 27% to 23.36 billion dollars, while its funding rate was last seen during the March 2020 covid crash.
A sharp decline in the open interest of the atherium suggests that traders are pulling back from leveraged positions, which grow due to market uncertainty.
Along with this, the social spirit weighted to ETH has negatively negatively dated the data.
ET -Technical Analysis
On the daily USDT chart, the Eth 50-day and 200-day moving have gone below the averages, indicating the tendency of a strong short-term recession.
In addition, the Arun indicator showed Aron down 100%, while Aron Up showed a reading of 0%, which means the property can potentially see more losses in the coming day.
However, the relative power index, with an oversold reading, states that it may be easy to sell pressure on ETH. Usually, an asset experiences a rapidly reversal once she collides with her. This trend can be confirmed if the Eth 200-day moving returns its recovery over the average.
Ath can rebound
Despite sharp sales, signs of buying dips are emerging, indicating that some investors see the pullback as an opportunity to purchase instead of a long recession.
Investors have withdrawn ETH worth $ 326.7 million from exchanges in the last three days. data From coinglass. Typically, such outflow suggests that investors are accumulating during the dip, once the price recovery is expected after reducing the pressure of the recession.
Whale has also started purchasing the largest Altcoin after the recent price dip. According to February 3 x Post From Onchain Lens, a whale bought 35,494 ETHs, priced around $ 88 million.
In a post -post, the forum reported to buy another whale of $ 1 million worth $ 1 million after a recent dip.
In the comments by Crypto.news, Tymio’s founder Georgie Verbitsky, estimating that Eth could see a short -term bounce towards $ 2,700, run by technical factors and operated by temporary relief in market spirit. However, he said that the Etharium has struggled in recent times and without strong catalysts or fresh stories, it is likely to be weak against bitcoin.
He said, “If global tariff concerns increase or another wave of negative news is a hit in the market, we can see another leg below, before the ETH gets more stable ground,” he said.
Meanwhile, analyst Ali Martinez Identified A ascending parallel channel in the value action of Ethereum on the 3-day chart. He said that ATH should organize a $ 2,750 support level to maintain its trajectory within the channel. If it holds this level, Martinez estimated a possible rebound for $ 6,760.
Ether was still 18.4%at the press time, exchanging hands at $ 2,541 per coin.
