Ethereum Plummets Below $2,400 to 7-Month Low Amid Market-Wide Crash
- Market Crash Impact: On Saturday, the cryptocurrency market experienced another crash, with Ethereum dropping over 10% in the past 24 hours, falling below $2,400 for the first time, and marking an 18% decline weekly, severely undermining investor confidence.
- Key Support Level Breached: Ethereum's drop below the crucial support level of $2,700 has placed it in a 'make-or-break' situation, as analysts warn this could trigger panic selling among investors, exacerbating market volatility.
- Whale Activity Analysis: Despite the market downturn, analysts noted that Ethereum whales have net bought over $2.97 billion worth of ETH in the past day, indicating a long-term confidence in the asset that could play a significant role in future rebounds.
- Severe Liquidation Situation: According to CoinGlass data, over $550 million in Ethereum long positions were liquidated in the past 24 hours, surpassing the $475 million in Bitcoin liquidations, highlighting the high leverage risks in the market and the vulnerability of investors.
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Technical Analysis for RECALL
Technical Sentiment Analysis for Recall (RECALL). As of , Recall (RECALL) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for RECALL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, RECALL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Recall (RECALL) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0214 | 0.0311 | 0.04 | 0.0497 | 0.0586 | 0.0683 | 0.0772 |
| Fibonacci | 0.0311 | 0.0382 | 0.0426 | 0.0497 | 0.0568 | 0.0612 | 0.0683 |
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