price ETHEREUM (ETH) He continues to fluctuate Within a narrow range, with strong resistance about $ 2000. Currently, many technical and basic factors indicate that exceeding this threshold may be a short -term challenge.
Data from Bitstamp Highlight how ETH moves between 1,810 and 1960 dollars In the past seven days, on the occasion of a stage of monotheism.
The main issues are related to A weak activity for the ethereum networkDecrease in the total closed value (TVL), and Negative external flows of investment funds circulated on Ethereum.
Outputs out of ethereum etfs and price expectations
One of the main factors that negatively affected the value of the ether is continuous External flows of ETHEREUM on circulating investment funds. Investors have adopted a more cautious approach, which reduces their exposure to these financial tools.
In the United States, Ethereum Etfs has recorded external flows for seven consecutive days,, 265.4 million dollarsAccording to data from Sosovalue.
In parallel, other ETHEREUM investments have seen capital flow 176 million dollarsBringing the total external flows to the month to 265 million dollars.
James Bouville, Director of Research at CoinsharesHe described this position as the worst ever, saying:
“This also represents the seventeenth day in a row of external flows, and it is the longest negative chain since we started collecting data in 2015.”
The twice the price of ETHEREUM is closely related to Decrease in the network activity. Although he maintains lead in the weekly size of decentralized exchanges (DeX), this parameter is constantly decreased.
Last week, the size of DeX decreased 30 %Access 16.8 billion dollars (Data has been updated from March 17).
Some protocols recorded more clear losses: The Moverik protocol witnessed an 85 % decrease in the activitywhile Dodo saw sizes decrease by 45 %.
The total closed value (TVL) on ETHEREUM also has also seen a major contraction. This month, TVL decreased by 9.3 %Dropping from 77 billion dollars in January to 46.37 billion dollars registered on March 11.
Among the most affected protocols that we find:
- – Lido: -30 % of TVL in 30 days
- – eignlayer: -30 %
- – ethir.fi: -29 %
- – maker: -28 %
This data shows that although ETHEREUM remains a dominant player in the Defi sector, the network adoption passes through a stage of weakness.
Technical signals indicate a possible decrease to 1530 dollars
From an artistic point of view, the ether scheme appears for four hours possible InformDetailed continuity pattern. This setting indicates that the price may have an additional decrease in the coming days or weeks.
The bear mark is formed when the price is bounced on a small upward channel after a strong decrease, before collapsing again.
If Eth will be closed below The support level of $ 1880The preparation can be achieved, which decreases the price to $ 1530, which represents a decrease 20 % Compared to the current levels.
Moreover, the RSI is placed in 48, a indicator that highlights the spread of bear stress in the market.
On the other side, bull They are trying to keep the price higher than the level 1930 dollars.
If ETH is able to overcome resistance 1970 dollarsIt will nullify the bear pattern, and pave the way for a possible recovery.
ethereum under pressure
Ethereum is in a sensitive stage, with strong resistance at $ 2000 and a market showing signs of weakness. the Capital flow grows from traded investment funds and Decrease in the network activity Weight on ETH price.
Investors must closely monitor Support levels at $ 1880 The resistance is at 1970 dollars to understand the following market movements.
In the event that ETHEREUM is lost decisive support, the price can decrease to 1530 dollars, highlighting the pressure of the new bear.
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