Making a return in the cryptocurrency market is proving challenging for Ethereum (ETH). After its bear trap rebounded, Ethereum hesitated to catch up to Bitcoin. Ethereum seems to be stuck around $3,200. This leads to the question: Will ETH be able to recover and start rising again?
Ethereum’s Current Problems
Ethereum’s price has gone up and down, reaching important points like $3,200 and lately dropping to about $3,055. ETH rose slightly by 1.31% in the last 24 hours and started the day at $3,131, but it fought to keep going up. The trade volume hit $24.22 billion, but the market also saw $70.43 million worth of Ethereum being sold off.
Bearish Signals in the Market
Market signs indicate that Ethereum may face more challenges. The MVRV has dropped below its 160-day average, which could mean a price drop is coming. ETH fell by 40% the last time this happened, going from $3,500 to $2,100. This raised concerns that it could happen again. Market conditions are poor, as MACD and CMF suggest more sellers than buyers. This could lead to more price drops. A large ETH price rebound is feasible if Ethereum can alter course.
Is a change coming?
Even though the current view is pessimistic, analysts are hopeful about Ethereum’s future. A rally in February might help ETH rise again. If Ethereum breaks through immediate resistance levels of $3,267 and $3,319, it could target its previous high of $3.4K or even hit the $4K mark. If there’s a big turnaround, ETH could pick up speed and create new hope for the market. ETH price rebound indications are watched by investors.
Conclusion
Ethereum’s price is falling due to an adverse market. The market may recover despite its current decline. Analysts are watching Ethereum because a February rally might raise its worth again. If ETH can break resistance levels like $3,267 and $3,319, it might rise to $4,000. Ethereum market trends will be essential if Ethereum can regain momentum. Ethereum’s future rests on its capacity to reverse course. It could rebound if it overcomes selling pressure and keeps increasing. The following two weeks are essential for Ethereum, and market participants will watch. Can ETH recover to its former heights? Only time will reveal the path.
