Ethereum Dives into Key Liquidity Region as Technical Outlook Grows “Ugly”

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Ethereum has not been able to avoid the impacts of Bitcoin’s recent break beneath $12,000 This key technical development sent shockwaves throughout the market, with ETH reeling down to lows of $400 before finding any significant support Analysts are now noting that the crypto may be well-positioned to see further near-term weakness That being said, it may first navigate higher to tap a key liquidity region before it continues its descent Overall, analysts are expecting further near-term downside Ethereum, just like virtually all other major digital assets, has been showing some intense signs of weakness in recent hours – struggling to gain any momentum as it drifts lower. The cryptocurrency has now reached a key support level that has been stopping it from seeing any major downside. Despite this, the risk of it plunging even lower is still quite high, as this latest decline struck a blow to its technical…

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