Ethereum is testing the critical $2,000 support level after a significant 13% drop in a week, with whale selling pressure evident as a major holder sold 40,000 ETH. The weekly RSI has hit a multi-year low, raising concerns about further declines, while on-chain data shows increased sell pressure with 60,000 ETH moved to exchanges. Despite the bearish indicators, some analysts suggest that the current market conditions could present opportunities for long-term investors.
about Ethereum Faces Critical Support Test Amid Market Uncertainty and Whale SellingOlson
0 posts last weekEthereum Faces Selling Pressure as RSI Hits Three-Year Low
Ethereum (ETH) has dropped 13.8% over the past week, currently trading at the critical $2,000 support level, with its weekly RSI at a three-year low of 35.87. Analysts warn of potential further declines, citing a possible 60% drop if history repeats itself. Despite macroeconomic pressures, some believe ETH may be nearing its bottom, as exchange balances hit a nine-year low, indicating supply scarcity.
about Ethereum Faces Selling Pressure as RSI Hits Three-Year LowNorth Dakota lawmakers propose adding Bitcoin to state treasury investments
North Dakota lawmakers have introduced a resolution encouraging the inclusion of digital assets and precious metals in the state treasury to hedge against inflation. Sponsored by six Representatives and two Senators, the proposal aims to diversify the state’s financial resources. This initiative aligns with similar efforts in other states, including New Hampshire and Pennsylvania, to explore crypto investments as part of public portfolios.
about North Dakota lawmakers propose adding Bitcoin to state treasury investments