After a show of resilience over the past few weeks, the Ethereum price finally gave way, falling below the $2,000 level for the first time since March 10th. The โKing of Altcoinsโ succumbed to the downward pressure that spread across the global financial markets on Friday, March 27th, as the geopolitical tensions in the Middle East rage on. With rising oil prices due to the supply shock driven by the partial closure of the Strait of Hormuz, inflation expectations across various world economies are rising rapidly. Specifically, the fear of…
Tag: Ethereum
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Ethereum Loses $2K as Traders Expect a Deeper Correction in ETH Price
Etherโs (ETH) drop below the $2,000 on Friday put it at risk of a deeper correction in the coming weeks or months. Key takeaways: Etherโs price shows structural weakness as it fails to hold above the $2,000 psychological support. Analysts say ETH price may drop further toward the $1,750-$1,850 support zone. Etherโs demand stays negative, increasing its downward potential.ย Ether traders anticipate a deeper correction Data from TradingView showed ETH/USD trading at $1,975, down 5% over the last 24 hours. This drop was accompanied by more than $111 million in…
Something Is VERY WRONG WITH THIS CRYPTO CYCLE (Massive Midnight News & Altcoin Alert)
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Bitcoin and Ethereum drop as Iran raises Hormuz war risk
Two Chinese container ships linked to Cosco briefly moved toward the Strait of Hormuz on Friday before turning back near Iranian waters, adding to market concern over shipping access in the Gulf.ย Summary Two Chinese-linked ships turned back near Hormuz as Iran enforced stricter control over vessel movements. Iran warned certain ships against transit, calling the strait closed to its stated enemies. Bitcoin and Ethereum fell as geopolitical tension increased and uncertainty spread across global financial markets. Meanwhile, the moves came as Iranโs Revolutionary Guard repeated that traffic tied to…
Ethereum Price Drops Near $2,020, Downside Pressure Continues to Build
Ethereum price failed to clear the $2,200 zone and declined. ETH is now consolidating above $2,020 and might struggle to start a recovery wave. Ethereum started a fresh decline from the $2,200 zone. The price is trading below $2,120 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2,135 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it stays below the $2,120 resistance. Ethereum Price Dips Further Ethereum price failed to stay…