BeInCrypto Global
--
JPMorgan’s Ethereum Push Meets a Critical Chart Test — Rebound or Breakdown?
Ethereum has been one of the hardest-hit major assets in the latest crypto market selloff. The ETH price is down over 6% in the past 24 hours, extending weekly losses to roughly 9%, as macro pressure and liquidations weigh on prices.
Against this weak backdrop, a fresh institutional headline has shifted attention back to Ethereum’s fundamentals. JPMorgan has announced the launch of its first tokenized money market fund on Ethereum, seeded with $100 million. The key question now is whether this development can help the ETH price stabilize and rebound, or whether technical pressure will force a deeper breakdown.
JPMorgan’s Tokenized Fund Adds Long-Term Support, but the Chart Faces a Test
JPMorgan’s move reinforces Ethereum’s role as an institutional settlement infrastructure. The bank is launching a tokenized money market fund, called MONY, on Ethereum through its digital asset platform, with an initial $100 million allocation before opening to outside investors.
From a long-term perspective, this strengthens Ethereum’s credibility with traditional finance. In the short term, however, price action remains under pressure. On the daily chart, Ethereum is approaching a bearish EMA crossover, where the 100-day exponential moving average is close to slipping below the 200-day EMA.
ETH Price Faces Risk: TradingView
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
An EMA is a trend indicator that reacts faster to price changes. When the faster EMA drops below the slower one, it often signals weakening momentum.
This setup means that even positive headlines may struggle to spark a sustained rebound unless Ethereum clears key resistance levels. Plus, the EMA crossover forming with the ETH price struggling to hold onto the $2,910 support underscores the technical weakness.
On-Chain Signals Support a Rebound Case if Support Holds
While the chart looks fragile, on-chain data presents a conditional rebound scenario. The percentage of Ethereum addresses in profit has fallen sharply since December 10, alongside an 11% price drop. This metric is now at its lowest reading since early December.
In prior instances, similar local lows have aligned with short-term rebounds. On December 1, a dip in this metric preceded a move from around $2,800 to $3,190 in a single day, roughly a 14% gain. Another local low on December 5 was followed by a near 10% ETH price increase.
Sellers Might Be Losing Hold: Glassnode
This does not guarantee a bounce, but it shows selling pressure has reached zones where buyers previously stepped in, provided price support of $2,910, from the technical chart shared earlier, remains intact.
Ethereum (ETH) Price Levels That Decide Rebound or Breakdown
Ethereum is now testing a critical support near $2,910. A daily close below this level would invalidate the rebound setup and expose downside toward $2,710, followed by $2,620 if market stress intensifies.
For the rebound case to stay alive, ETH must reclaim $3,240. A daily close above that level would ease downside pressure and open the door toward $3,440. Until that happens, any upside should be viewed as corrective rather than trend-confirming.
Ethereum Price Analysis: TradingView
Ethereum is now caught between long-term institutional optimism and near-term technical weakness. Whether the JPMorgan headline leads to a rebound or gives way to a breakdown depends on how the price behaves at these critical levels in the days ahead.
Against this weak backdrop, a fresh institutional headline has shifted attention back to Ethereum’s fundamentals. JPMorgan has announced the launch of its first tokenized money market fund on Ethereum, seeded with $100 million. The key question now is whether this development can help the ETH price stabilize and rebound, or whether technical pressure will force a deeper breakdown.
JPMorgan’s Tokenized Fund Adds Long-Term Support, but the Chart Faces a Test
JPMorgan’s move reinforces Ethereum’s role as an institutional settlement infrastructure. The bank is launching a tokenized money market fund, called MONY, on Ethereum through its digital asset platform, with an initial $100 million allocation before opening to outside investors.
From a long-term perspective, this strengthens Ethereum’s credibility with traditional finance. In the short term, however, price action remains under pressure. On the daily chart, Ethereum is approaching a bearish EMA crossover, where the 100-day exponential moving average is close to slipping below the 200-day EMA.
ETH Price Faces Risk: TradingView
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
An EMA is a trend indicator that reacts faster to price changes. When the faster EMA drops below the slower one, it often signals weakening momentum.
This setup means that even positive headlines may struggle to spark a sustained rebound unless Ethereum clears key resistance levels. Plus, the EMA crossover forming with the ETH price struggling to hold onto the $2,910 support underscores the technical weakness.
On-Chain Signals Support a Rebound Case if Support Holds
While the chart looks fragile, on-chain data presents a conditional rebound scenario. The percentage of Ethereum addresses in profit has fallen sharply since December 10, alongside an 11% price drop. This metric is now at its lowest reading since early December.
In prior instances, similar local lows have aligned with short-term rebounds. On December 1, a dip in this metric preceded a move from around $2,800 to $3,190 in a single day, roughly a 14% gain. Another local low on December 5 was followed by a near 10% ETH price increase.
Sellers Might Be Losing Hold: Glassnode
This does not guarantee a bounce, but it shows selling pressure has reached zones where buyers previously stepped in, provided price support of $2,910, from the technical chart shared earlier, remains intact.
Ethereum (ETH) Price Levels That Decide Rebound or Breakdown
Ethereum is now testing a critical support near $2,910. A daily close below this level would invalidate the rebound setup and expose downside toward $2,710, followed by $2,620 if market stress intensifies.
For the rebound case to stay alive, ETH must reclaim $3,240. A daily close above that level would ease downside pressure and open the door toward $3,440. Until that happens, any upside should be viewed as corrective rather than trend-confirming.
Ethereum Price Analysis: TradingView
Ethereum is now caught between long-term institutional optimism and near-term technical weakness. Whether the JPMorgan headline leads to a rebound or gives way to a breakdown depends on how the price behaves at these critical levels in the days ahead.
ရှင်းလင်းချက်- ပြင်ပအဖွဲ့အစည်း၏ ထင်မြင်ယူဆချက်များ ပါဝင်သည်။ ဘဏ္ဍာရေးဆိုင်ရာ အကြံပေးခြင်း မဟုတ်ပါ။ စပွန်ဆာပေးထားသော အကြောင်းအရာများ ပါဝင်နိုင်ပါသည်။ See T&Cs.
ETH
2,929.79
+3.22%