$ETH Drops 25% in 10 Days: Months of Gains Wiped Out in a Flash
Ethereum ($ETH) has seen a sharp decline, losing 25% of its value in just 10 days after months of steady growth. Currently trading at $3,293.93, it’s down 10.58% in the past 24 hours. The price fell from a high of $3,720 to test a key low of $3,280, signaling intensified selling pressure.
Key Levels to Monitor
Support: $3,280 – A break below this level could push $ETH toward $3,100.
Resistance: $3,542 – Bulls must reclaim this level to initiate a potential recovery.
Trade Setup
Entry Point: Around $3,281 for a cautious long position.
Targets:
1. $3,542 – Immediate resistance for a short-term rebound.
2. $3,845 – Next major resistance zone.
Risk Management
Stop-loss: Set at $3,260 to minimize losses.
Market Overview
The bearish momentum remains dominant, with no clear signs of reversal yet. Traders are advised to wait for a confirmed breakout above resistance or significant volume changes before entering aggressive positions.