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Ethereum is still in trouble
Ethereum is trading below the $3,000 level again after the asset failed to find enough support to continue rising. It can be safely said that the asset is in a very critical state, as all indicators on the network and on the market show very weak activity among users and investors.
The main reason for Ethereum's problems is the lack of significant investor support. The asset has faced resistance on multiple occasions despite attempts to change course and break above the crucial $3,000 mark, indicating a lack of buying pressure.
The overall market mood remains cautious, and investors seem unenthusiastic about pumping a lot of money into ETH. Ethereum on-chain indicators show a dismal picture, as there have been relatively few transactions on the network, along with a decline in user engagement. Interest in Ethereum and its ecosystem appears to have declined based on this decline in on-chain activity.
#SOFR_Spike #US_Job_Market_Slowdown #BinanceTurns7 #VanEck_SOL_ETFS #ETH_ETFs_Approval_Predictions
