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The cryptocurrency market indicates that Ethereum (ETH) 
$2,546 is hovering near a critical support level of $1,440. Experts warn that if this level is breached, the downtrend could accelerate. Growing large-scale transfers and weaknesses in technical indicators are causing unease among traders. However, a diamond formation in ETH’s price is catching attention as a potential positive signal. Analysts emphasize that upcoming price movements will be decisive for market dynamics.
Key Support Level for Ethereum and Downward Risks
The realized price value of $2,060 for Ethereum is considered a significant reference point in technical analyses. Currently, the cryptocurrency is trading well below this level. The emergence of $1,440 as a support level raises concerns that the price could decline to $1,250 if this threshold is lost. Analysts like Ali Martinez highlight that the MVRV (Market Value to Realized Value) indicator is signaling weakness.
The overall low trading volume and cautious attitudes among traders are complicating a short-term recovery for Ethereum. Particularly, increased closures below $1,440 are seen as a factor that could trigger selling pressure. The uncertainty in technical indicators suggests that traders need to prioritize risk management.
Large Transfers and Market Dynamics
In the last 24 hours, a transfer of 20,000 ETH (approximately $29 million) by Amber Group has raised concerns in the cryptocurrency market. Such large-scale movements are typically interpreted as preparation for selling. Lookonchain data indicates that this transfer was made to leading exchanges, signaling a rise in liquidity. This scenario brings additional volatility risks for Ethereum’s price in the short term.
The movements of large investors, or whales, always play a critical role in the cryptocurrency market. Amber Group’s actions could negatively influence market participants’ expectations. Conversely, the observed positive diamond formation on the Ethereum network indicates potential upside if resistance levels are breached. However, the current conditions overshadow technical optimism.
