$ETH BREAKS LOWER: IS THE BOTTOM IN OR ARE WE GOING TO 1900
Ethereum has slipped below its critical moving averages and is currently battling to hold the $2115 to $2130 range. Macroeconomic pressures and rising bond yields triggered massive liquidations over the weekend, putting immediate pressure on the bulls. Massive buyer density sits between $2050 and $2100, where nearly 4 million $ETH were previously accumulated. If this area fails to hold, expect a fast drop toward the $1900 psychological support. To regain control, buyers must reclaim $2200 and flip it back into support.
Despite an 8.2% drop this week, long term fundamentals remain highly active. Whales are using this dip to accumulate, and the overall staking ratio is still rising. Institutional options trading is expanding globally, which shows big money is still hedging bets on $ETH . Watch the $2100 level closely. This is a high volatility zone.