$ETH drops 3.39% alongside broader market weakness — but the ETH/BTC ratio holds steady amid the carnage.
What's Happening:
Price Action: Ethereum retreats to $3,209, testing the $3,200 psychological support level.
Relative Strength: ETH/BTC ratio stable despite the selloff — Ethereum not leading the decline.
Network Activity: Gas fees remain elevated, showing continued on-chain demand despite price weakness.
Staking Yields: ETH staking APY holds attractive at 4.2%, providing floor support from yield seekers.
Why It Matters:
Ethereum's ability to hold the ETH/BTC ratio during selloffs signals accumulation rather than distribution. With ETF staking discussions advancing and layer-2 activity at highs, the fundamentals haven't changed — only the price. Fear readings often mark ETH's best entry points.
Technical View:
$3,200 is the battleground. A hold opens the path back to $3,400. A break below targets $3,000 psychological support. The 100-day MA provides additional support at $3,150. RSI approaching oversold on the 4-hour chart.
🎯 Key Levels:
Support: $3,150 | Resistance: $3,400
24h Range: $3,178 - $3,369
💡 "When fear peaks, smart money accumulates. Ethereum's fundamentals didn't change overnight — just the sentiment."
What's your take? Drop a 🔥 for bullish, ❄️ for bearish 👇
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Disclaimer: This content is for educational purposes only and should not be considered financial advice. Always do your own research (DYOR) before making any investment decisions.
