Ethereum Price Slides: Will ETH Plunge to $4,000?
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Ethereum Price Under Pressure as Profit-Taking Intensifies
Ethereum (ETH) is experiencing a significant price correction after failing to maintain levels above $4,700. The current price sits around $4,335, representing a 4.35% daily decline and signaling increasing bearish sentiment within the market.
The retracement is largely attributed to accelerated profit-taking among larger Ethereum holders. This selling pressure is contributing to the downward trend. Technical analysis suggests that the $4,000 level represents a critical support point for ETH.
Key Levels to Watch
- Critical Support: $4,000
- Resistance: $4,700
If Ethereum breaks below $4,000, further downside could be expected. Traders should closely monitor these levels for potential entry or exit points.