Ethereum Drops 5% as U.S. Tariff Concerns and Vitalik Selling Pressure Weigh on Price
Key Facts
- •Ethereum price dropped 5% in 24 hours, extending its monthly decline to approximately 38%.
- •Ethereum is trading at $1,819.76, which represents a major support zone according to analysts.
- •Trader Don Wedge noted that Ethereum could either bounce from current levels or sweep key support before reversing higher.
Ethereum (ETH) experienced a 5% decline over the past 24 hours, extending its monthly losses to approximately 38%. The downward movement is driven by speculation regarding co-founder Vitalik Buterin's asset sales alongside emerging macroeconomic headwinds. Specifically, new uncertainty surrounding U.S. tariff issues is contributing to broader market selling pressure on the leading altcoin. Currently trading near $1,819.76, ETH is hovering around a critical technical support zone. Trader Don Wedge suggests that the market might sweep lower support levels before attempting a bullish reversal. Investors remain focused on how geopolitical risks and internal selling pressure will impact the price action of the world's second-largest cryptocurrency.
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