So, Ethereum is playing the sad little sibling to Bitcoin, which has been throwing tantrums with its massive bearish candles lately. The ETH price? Oh, it just decided to drop from $2800 again, turning that level into a “please don’t touch me” barrier. If the bulls don’t step up and defend the local support below $2400, we might just see a deeper dive. 🐋
But seriously, why is Ethereum dropping? Is $3000 just a cruel joke for 2025?
The crypto markets are feeling the heat from geopolitical drama between Israel and Iran. In the last 24 hours, we’ve seen more than a billion liquidations—yep, that’s a lot of crying! This chaos has led to our top token triggering an inverse v-shaped rejection. Currently, ETH has lost all its gains from the past few days, and the bullish pattern? Well, it’s been invalidated, which is like a bad breakup for the Ethereum price rally. 💔
Now, looking at the chart, ETH is still clinging to hope for a rebound, as it remains within a parallel channel despite the rejection. It’s like that friend who keeps saying, “I’m fine!” while clearly not being fine. The price is still dancing between the 50 & 200 day MA, aiming for a bullish crossover or the Golden cross. Meanwhile, the RSI is stuck in a descending parallel channel, which is like being in a bad relationship—definitely a concern for the upcoming price action. So, brace yourselves, because Ethereum might just test that lower support close to $2400 if things get worse, followed by a dramatic rebound to resistance. 🎢
Will Altseason Be Fashionably Late Beyond 2025?
Even though the Ethereum bulls are trying to defend the price from critical support, the chart patterns are still playing hard to get. Meanwhile, Bitcoin dominance is on the rise, suggesting that liquidity is once again flowing into our star token. The Altcoin season index had a moment of glory, rising above Bitcoin, but alas, it has dropped again, hinting at a BTC season instead. 🥴
Right now, the market conditions are not exactly cheering for an Altseason. The altcoins are just sitting there, not showing any major changes in the short term. This means Bitcoin is still the main character in this drama, and the other altcoins are just supporting actors. So, while Altseason might not be on the immediate horizon, if Bitcoin dominance drops below 55, we might just see a plot twist! 🎬
Read More
2025-06-13 18:07