Ethereum has broken below its consolidation range, signaling heightened sell pressure and potential continuation of its downtrend. This technical breakdown puts critical support levels at risk as bearish market sentiment intensifies.
The taker buy/sell ratio has declined to 0.93, indicating persistent dominance of sell orders and weakening demand for ETH. This metric reflects deteriorating market confidence in the asset.
Technically, Ethereum trades below its 20-day exponential moving average, reinforcing short-term bearish momentum. The breach of key support zones raises concerns about further downside potential if current levels fail to hold.
Geopolitical tensions involving the US, Israel, and Iran have contributed to broader cryptocurrency market volatility. These developments have amplified risk aversion among investors, exacerbating selling pressure across digital assets.
Market participants are advised to monitor the taker buy/sell ratio and crucial support areas closely. These indicators may provide early signals of either trend reversal or additional price deterioration in the near term.