ETH Triple Top Rejects $2.4K As Analysts Flag Weakness Against BTC

Ether (ETH) has encountered a significant triple top pattern, failing to break the $2,400 resistance level four times in two weeks. This technical hurdle, combined with trading below the 100-day moving average, has created bearish sentiment. Analysts like Michaël van de Poppe highlight Ether's declining strength against Bitcoin, noting the ETH/BTC ratio has breached key support levels. Furthermore, $2.5 billion in leveraged long positions near the $2,150 support zone suggests that a failure to hold this level could trigger forced liquidations, potentially pushing prices lower toward the $1,900 range.

(Source：Cointelegraph)