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The entire cryptocurrency market declined today, and Ethereum failed to hold onto yesterday's rebound. According to SoSoValue data, ETH dropped 3.92% in 24 hours, breaking below the $2000 mark, currently trading around $1940. Bitcoin also fell below $67,000, and the SocialFi sector led the decline with a 6.25% drop.
On the technical side, ETH faced rejection after consolidating above $2149 and continued to come under pressure. Analysts point out that if the correction persists, the price may test the lower consolidation zone around $1747. Momentum indicators show mixed signals: RSI indicates bearish pressure, but MACD still suggests a potential rebound may be brewing. Current market sentiment is influenced by escalating Middle East geopolitical conflicts, remaining risk-averse.
$ETH Key Points
Price Performance: ETH broke below $2000, at $1940, down 3.92% in 24 hours.
Technical Key Levels: Support at $1747, resistance at $2149, RSI bearish but MACD leaning bullish.
Macro Environment: Ongoing geopolitical conflicts continue to suppress risk appetite.