Ethereum News: Potential Crash Warning as Price Moves Inside Ascending Triangle

In a recent analysis, crypto analyst Trend Diva has shed light on the Ethereum price action, revealing a crucial pattern and issuing a potential crash warning.

Ethereum Price Maintains Movement Inside Ascending Triangle, Potential Crash Warning

Crypto analyst Trend Diva has analyzed the Ethereum price action, revealing it is moving inside an ascending triangle. The upper boundary acts as resistance, and the lower boundary provides support. The analyst warned that if Ethereum fails to stay above a crucial support level, it could suffer further downside pressure. This analysis comes amid Ethereum’s recent decline below $2,000.

World Liberty Financial Approaches End of WLFI Token Presale Amid Ethereum Crash

World Liberty Financial, a fund associated with the Trump family, is nearing the end of its WLFI token presale. With only $2M left to raise in the second stage, the project is poised to move to the next stage. Despite placing 25B tokens at $0.015 earlier, fundraising has been slow, mostly driven by retail buyers. The remaining 40M tokens are priced at $0.05 each. WLFI tokens are primarily sold for Ethereum (ETH) or USDC, with purchases ranging from as low as $10. However, the fund’s portfolio has suffered due to the recent Ethereum crash.

Ethereum Drops Over 10%, Nears $2,000 Support

Ethereum’s price has dropped 10.40% in the past week, nearing the crucial $2,000 support level. The latest drop has raised concerns among investors due to macroeconomic pressures and market-wide sell-offs. While short-term traders are exiting their positions, large Ethereum whales have accumulated 330,000 ETH in just 48 hours, signaling a potential rebound. The next move hinges on holding onto the $2,000 level, as a breakdown could trigger further liquidations.

Ethereum Price Turns Bearish Below $2,000

Ethereum price failed to clear the $2,120 resistance and declined below the $2,000 support. It is now consolidating and facing hurdles NEAR the $2,000 resistance. A short-term declining channel is forming with resistance at $1,880 on the hourly chart. The price must clear the $1,880 and $1,950 resistance levels to start a decent increase. ETH declined further and formed a low at $1,753.