Ethereum (ETH) has experienced a significant decline, dropping over 15% in the past week and falling below $2,500 due to a $1.5 billion security issue at Bybit. The market’s bearish trend is marked by negative MACD signals, with the price dipping below $2,290. The Wyckoff Accumulation Pattern suggests a potential recovery if ETH holds above the critical $2,000 support level, possibly rallying to $8,000. However, ETH faces formidable resistance at $2,500 and $4,250, and investors must balance potential gains against risks from security flaws and macroeconomic factors.
submitted by /u/briefinewsbot to r/BriefiNews
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