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The Ethereum price dropped 3% in the last 24 hours to trade at $2,636 as of 03:29 a.m. EST on trading volume that rose 17% to $20.3 billion.
The correction in the ETH price comes even after Goldman Sachs increased its spot Ether exchange-traded fund (ETF) holdings by 2,000% in the fourth quarter of 2024. As a result, the investment bank’s ETF exposure has increased from $22 million to $476 million.
BREAKING:
THE BIGGEST U.S. BANK GOLDMAN
SACHS WITH $2.8 TRILLION JUST
BOUGHT $450M IN ETHEREUM ETF.BANKS ARE COMING FOR YOUR ETH pic.twitter.com/IPZ0xPEBek
— Ash Crypto (@Ashcryptoreal) February 12, 2025
ETH Price On A Correction
The Ethereum price has displayed a classic rounded top pattern, often indicating a bearish reversal.
This pattern suggests that buying momentum gradually weakened, leading to a downturn. The ETH price peaked near $4,100 and has since declined significantly, falling below key support levels.
Additionally, a previous consolidation phase (marked in purple) around the $2,750 level acted as a base before the last major uptrend, according to data from GeckoTerminal.
Now that the Ethereum price is revisiting this zone, it is crucial to monitor whether it serves as a support or if ETH breaks below it, confirming further downside movement.
As a result of the significant drop, the price of Ethereum is now trading below both the 50-day and 200-day Simple Moving Averages (SMAs), a confirmation of the current bearish outlook.
The Relative Strength Index (RSI) currently sits at 33.46, which is near oversold territory (below 30).
While this suggests that the price of ETH might be due for a short-term bounce, the overall trend remains bearish unless RSI shows a strong reversal above 40-50.
Ethereum Price Prediction
Ethereum’s technical indicators suggest continued downside risk unless it reclaims the 200-day SMA. The $2,750 zone acts as the previous consolidation area. If the Ethereum price fails to hold above this, it could drop further towards $2,500 or even $2,200 in a deeper correction.
Conversely, ETH must break back above $2,950–$3,000 (200-day SMA) to regain bullish momentum. A recovery beyond $3,200 could signal the end of the bearish trend.
As the ETH price drops, investors are also buying a new meme coin called BTC Bull (BTCBULL), which 99Bitcoins, a prominent YouTube channel with over 724k subscribers, says has the potential to soar 10X after launch.
BTC Bull Token Presale Raises Over $887K In 2 Days – Best Crypto To Buy Now?
As Bitcoin runs toward $100K, a new Bitcoin-themed meme coin is changing the game.
BTC Bull is a new promising Bitcoin alternative, with its presale already raising over $887K in its ongoing presale phase, which launched about 2 days ago.
Bitcoin is poised for substantial growth—projected to rise from $100k to $250k and ultimately beyond $1m. Investors who hold BTCBULL tokens in Best Wallet (BEST) will earn BTC airdrops when the market leader’s price reaches $150,000 and $200,000. A huge BTCBULL airdrop also awaits the biggest hodlers when BTC hits $250,000, weighted by the project’s Community Sale purchase amount.
The system failed us. So we created a new one. BTCBULL is leading the charge. 🐂🔥 pic.twitter.com/DSoZ7fPzt8
— BTCBULL_TOKEN (@BTCBULL_TOKEN) February 11, 2025
Holders will also benefit from the project’s token burn strategy. The team will strategically destroy BTCBULL tokens, permanently revoking them from circulation. The idea is to increase scarcity and value.
Bitcoin BULL token holders also have an opportunity to earn passively through the project’s staking platform, which offers a massive 441% annual percentage yield (APY).
Investors interested in participating in the presale can visit the official BTC Bull website to buy BTCBULL tokens for $0.002355 each using BNB, ETH, USDT, or a bank card.
🚨 $BTCBULL is Live in Upcoming Tokens! 🚨@BTCBULL_TOKEN is a Bitcoin rewards-based meme token that delivers milestone-based airdrops as Bitcoin hits new price levels.
With built-in incentives for buying, holding, and trading, $BTCBULL gives holders a new way to stack BTC.… pic.twitter.com/BMzBHcLltU
— Best Wallet (@BestWalletHQ) February 10, 2025
Buy BTCBULL tokens before a price hike in less than 4 days to secure the best deal.
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