Crypto
Ethereum Price Plummets Below Key Support
Ethereum's price has fallen below its 50-week EMA at $2,372.88, leading to increased selling pressure on the daily and 4-hour charts.
The critical question is whether ETH can return above this mark or continue downward toward $2,265 and potentially as low as $2,010.
On-chain data is also weakening, with a stable market cap alongside a lower ETH price suggesting an increase in circulating supply.
Network activity has decreased, with the number of active addresses down 6.1% and the number of transactions falling by 13.6%.