Ethereum Could Fall Further!If Middle East War Tensions Continue, Ethereum ($ETH ) Could Face a Major Drop. Ethereum ($ETH ) fell sharply as war tensions escalated in the Middle East. Altcoins fell by around 10%, especially Ethereum. ETH, the pioneer of altcoins, fell below $2,500 following news of Iran launching a missile attack on Israel. The increase in spot exchange reserves of cryptocurrencies is a sign of greater selling pressure and the possibility of further price declines. Ethereum exchange reserves increased as selling pressure increased. According to data from CryptoQuant, ETH exchange reserves have increased by more than 144,000 ETH in the past 24 hours. Grayscale Ethereum Trust led the outflows with $26.64 million, while Fidelity's FETH reported outflows of $24.97 million. Bitwise's ETHW also saw net outflows of $895,650. VanEck's ETHV saw net inflows of $2.74 million, and 21Shares' CETH saw inflows of $1.25 million. The other four spot ether ETFs saw no outflows. Ethereum, which fell below $2,500 amid geopolitical tensions, was trading at $2,479 at the time of writing. ETH, which has a negative outlook on fundamental and technical analysis, could face more selling pressure unless it can close the week above $2,500. In such a case, the drawdown can go up to $2300 – $2109 and $1930 respectively. A weekly close above $2500 would strengthen the buyers’ strength. In such a scenario, a rise to $2750 – $3000 – $3294 – $3700 and $4078 respectively is possible.#KIP #Write2Win #binance #MOGUL #Write2Win
Lh insta: change0
