Ethereum faces potential downward pressure in the near term, with analyst Ali Martinez suggesting a drop to as low as $2,850.
Martinez’s analysis reveals that around 2 million Ether addresses acquired approximately 1.64 million ETH within a specific price range of $2,846 to $2,951.
Ethereum’s short-term outlook is further complicated by daily Fibonacci retracement levels, suggesting crucial support levels between $3,193 and $3,298.
As the cryptocurrency market grapples with a bearish sentiment in the lead-up to the highly anticipated Bitcoin halving, Ethereum (ETH), the second-largest cryptocurrency by market capitalization, finds itself in the spotlight. Renowned crypto analyst Ali Martinez conducted a recent price analysis that suggests ETH may face significant downward pressure in the near term, potentially dropping as low as $2,850.
Martinez’s analysis indicates that an estimated 2 million Ether addresses acquired roughly 1.64 million ETH within a price bracket s
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