Key Points
- ETH is the worst-performing major crypto today, losing about 7% of its value.
- The cryptocurrency risks falling toward the $2,000 psychological level amid rising selling pressure.
Ether Falls Below $2,300 After a 7% Drop
Ether, the second-largest cryptocurrency by market capitalization, has been the weakest performer among the top 10 cryptocurrencies, losing roughly 7% over the past 24 hours and trading below $2,300.
Ether is currently trading around $2,274 and faces the risk of sliding toward the key psychological level of $2,000 if the downtrend persists. This weakness has appeared as the broader crypto market records losses.
Bitcoin, the leading cryptocurrency by market cap, has also declined amid rising geopolitical tensions, contributing to broader selling pressure. If the current trend continues, BTC, ETH and other major digital assets may see further losses in the coming hours and days.
Ether Could Test Support Near $2,174
The ETH/USD 4-hour chart shows a bearish setup, and additional declines are possible if selling momentum remains. The Relative Strength Index (RSI) sits near 35, indicating substantial downward pressure from sellers.
The MACD crossed into negative territory on June 12, signaling that bears have maintained control. With the market still tilted toward the downside, Ether could test the next support area near $2,174 within hours or days. A failure to hold $2,174 may open the path for a sharper drop toward the $1,860 region, a level not seen since May.
Conversely, if market sentiment shifts and bulls regain control, Ether could quickly target the next liquidity zone near $2,450. A sustained bullish move could extend further and test the transaction liquidity area around $2,700.