Ethereum’s Price is Up, But This Analyst Still Sees Trouble Ahead

• Ethereum risks deeper losses if selling pressure pushes price below key support zones.
• On-chain data hints at possible accumulation near $1,886, offering temporary support.
• Fear-driven selling by long-term holders could create prime accumulation opportunities.

Ethereum has cracked below a key support level of $2,200, reinforcing the bearish mood and triggering warnings of a potential drop to $1,250. 

Ali Martinez, a well-known analyst, highlights that Ethereum’s breakdown from a parallel channel signals a potential decline to $1,250 if downward momentum persists. 

Following Ethereum’s fall to $1,840, analysts have identified crucial support zones at $1,640 and $1,250. If the selling pressure doesn’t let up, ETH could plummet further toward that $1,250 target, a level that aligns with historical support and Fibonacci retracement levels. 

Is There a Price Floor in Sight?

According to Glassnode, Ethereum’s Cost Basis Distribution (CBD) has increased from 1.6 million to 1.9 million ETH at the $1,886 level. T…

The post Ethereum’s Price is Up, But This Analyst Still Sees Trouble Ahead appeared first on Coin Edition.