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Ethereum (ETH) Slides to $2,100 as MVRV Signals Historic Accumulation Zone
Ethereum has declined to approximately $2,100 following a significant pullback from the $2,385 zone. The cryptocurrency breached multiple support levels at $2,320 and $2,250, while also breaking below a critical ascending trend line that had provided support near $2,160 on the hourly timeframe. The recent session low touched $2,100. ETH is now consolidating marginally above this level, positioned beneath the 23.6% Fibonacci retracement level calculated from the $2,385 peak to the $2,100 bottom. Additionally, Ethereum is trading underneath the 100-hourly Simple Moving Average, reinforcing the current bearish technical ... (full story)
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