Ethereum News: Technical Metrics Signal Potential Bottom, Despite Bearish Market Conditions

Ethereum’s Technical Metric Matches Past Crashes, Alliance DAO Co-Founder Says

Ethereum’s technical metric matches extreme lows from 2016, 2018, and 2022 crashes, according to Alliance DAO co-founder Qiao Wang. While Ethereum’s current market conditions resemble past extreme lows, ETH is still considered the “most likely” place for institutional adoption. Data from Crypto Waves indicates that as of March 13, ETH has entered the weak zone and is approaching oversold territory, similar to levels seen during the 2021 Terra collapse, the 2018 bear market, and after the 2016 DAO hack.

Bybit CEO Reacts to Hyperliquid ETH Liquidation

Bybit CEO Ben Zhou shared his thoughts on a massive Hyperliquid ETH whale liquidation that led to the platform losing $4 million. Zhou highlighted issues with leverage on both CEXs and DEXs, explaining how the whale was able to exit with a long position of 175,000 ETH (valued around $340 million) with 50x leverage without triggering a market crash. Zhou suggested that the whale made a ’quick and clean’ exit, letting Hyperliquid take the loss.

Ethereum (ETH) at a Make-or-Break Level: Is a Major Rally Ahead?

Ethereum approaches key support, signaling a potential bullish reversal if buyers step in at current levels. Fibonacci confluence and trendline support suggest ETH may be primed for an upward breakout soon. Traders are closely watching Ethereum as it tests support, aiming for resistance at $3,613.38, $4,074.79, and $4,674.35. ROSE Premium Signals has indicated that technical analysis points to signs that the price of ETH may be ready for a recovery, supported by trendline support and Fibonacci levels.

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