$ETH

Ethereum Sounds the Warning: Is the Market Sinking?

Today, Ethereum confirmed the crossover of the moving averages, a technical signal that has historically preceded corrections across the crypto market. In all recent occurrences of this pattern, what followed was a generalized drop, reinforcing the relevance of this indicator.

Currently, ETH seems to be one step ahead of Bitcoin in its movement, but the correlation between the two assets continues to be a determining factor. So far, this relationship has never failed to dictate the direction of the market. However, one point that draws attention is the growing importance of Sundays in defining the market bias – this has been the key day to confirm trends.

If the pattern repeats itself, ETH could approach the $2,200 region before starting a new cycle. Despite the technical scenario indicating a possible drop, Ethereum has shown itself to be more stable and less susceptible to speculation than BTC, which could make it a more reliable asset in the long term.

Given this scenario, it is worth closely monitoring the movements of the next few days. If Sunday's closing reinforces the market's weakness, we could be facing the beginning of a new bearish cycle.#ETH🔥🔥🔥🔥🔥🔥 #ETH $ETH #Ethereum