Etherum price forms another risky form

The Ethereum price remains in the deep bear market after performing more than 53% of its November high.

Ethereum (El) Crashed below key support to $ 2,000 and floats near your lowest point from 6. November.

There is a falling decline that happened as demand for a coin that vaned in Wall Street. All the place Etherum ETFs had outflows In the last three consecutive weeks, bringing the cumulative net inflow to $ 2.52 billion. The total asset fell to about $ 6.72 billion.

The fall of Ethereum is also fueled by growing fear at the crypto market. Curily observed crypto fear and greed index fell on the fear zone of 21. Bitcoin (Btc) Other Altcoyini tend to match when the sense of investors are weak.

Recent selling Etke token Etferum Foundation did not help. Just last week, Hariishnan Mulackal, a former engineer in the Foundation warned that Etherum’s The future was at risk without a clear leadership.

Etherum Network continued to face a significant competition than other chains on 1 layer like Solana (Salt) and the BSC chain. According to Defi Llam, the deck protocols at Etherm processed 1.012 billion dollars to the token volume on Monday, lower than BSC of 1.63 billion dollars and Solana 1,077 billion dollars.

Etherum price formed another risky form

The liquid crash against the Etent happened after forming a triple above sample on the Sunday chart. This form has three tops and a neckline, which was $ 2,126 in this case.

Etheretum also formed a death of death on a day chart when 50-day movement crossed in crossed 13. February. The cross of death is considered one of the risky patterns in the technical analysis.

ET ETH is slowly forming another bear pattern – flag. This formation consists of a long vertical line, and then a symmetrical triangle. The triangle approaches the point of mouth, suggests that a bear slaughter could have happened soon.

Therefore, the decline below the year lower than $ 1,757 could signal a further drop to a $ 1,500 psychological level.

The potential catalyst that can reinforce the Etherum price is the upcoming decision of the Federal Reserve on Wednesday. The Covering Tone of Fed could raise ETH and other cryptocurries.