Ethereum’s Critical Leverage Point Amid Price Pressure
- Ethereum’s price has fallen below $3,000, currently trading at $2,908.
- A key leverage point is identified between $2,830 and $2,835 due to significant whale orders.
- Approximately 4,000 to 5,000 ETH blocks were executed in this range.
- Failure to maintain above $2,770 could lead to a further price decline.
Ethereum is under pressure as it trades just above a critical leverage zone of $2,830-$2,835 where large whale orders have been placed. Maintaining this level is crucial for avoiding further declines below the next support at $2,770.
With Ethereum trading slightly above its leverage point at $2,908 and the potential for a breakdown below $2,770 looming, the market remains tense as traders watch these key levels closely. ( Source)
