Ethereum has been underperforming since the start of the week, losing 17% of its value over the last seven days. The decline comes amid a massive selloff in the broader cryptocurrency market. Ethereum has lost the $1,700 level, with the bears now targeting the $1,500 psychological level in the near term. However, the weekly chart is extremely bearish, with the liquidity magnet around the $1,380 zone. While it remains to be seen if Ethereum will drop to this April 2025 low, the technical indicators suggest that the bears are very much in control.
Source: Read the original article
