Ethereum dey face long time bearish pressure with risk of plunge below key technical levels
Ethereum dey currently experience long time wey e dey go down, wit the risk of closing below im 3-month Bollinger Band, wey fit mean say e go still dey go down. Analysts, including Tony ‘The Bull’ Severino, dey talk say e dey important to stay above this level so that e no go fall more. Ethereum price still dey weak, e dey around $2,000 now, and e fit fall to $1,500 if e close below the lower band. This one follow wetin people dey fear before say e go dey go down till 2025, as ETH/BTC pair dey show say e don oversold without any strong bounce back. Technical indicators, like 50-day and 200-day EMAs, still dey go down, wey dey show say e still dey go down. On top of that, gas fees don reduce for Ethereum mainnet and people dey move go Solana and Layer 2 solutions, wey dey show say transaction volume no strong and market no dey feel am. The way Ethereum dey go down show say make we dey careful, e need strong bullish efforts for am to come back up, and e still fit fall more.
Bearish
The current analysis dey point to say Ethereum go continue to dey fall, wey technical indicators like Bollinger Bands dey drive am, and dem dey suggest say e fit fall even more. Ethereum dey face serious technical wahala, as e dey show say e fit close below the important 3-month Bollinger Band level. This situation fit lead to price drop to $1,500, wey market worries and less transaction volumes go make am worse. The bearish outlook dey further confirmed by how e don perform before, low trading volumes, and say demand don reduce, wey dey show say challenges go dey for short to long term unless serious bullish efforts dey made.