Ethereum Price Analysis: 8.73 Million ETH Addresses at Risk if US Congress Rejects Paul Atkins

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🚨 Ethereum‘s Downward Spiral: Will Congress’s Rejection of Paul Atkins Send Prices Plummeting? 🚨

Ethereum Price Analysis: 8.73 Million <a href="https://pricpr.com/eth-usd/">ETH</a> Addresses at Risk if US Congress Rejects Paul Atkins

As the Ethereum price continues to wobble, like a drunken aristocrat on a cold winter’s night, investors are left wondering if the beloved cryptocurrency will ever regain its footing. Alas, the winds of change are blowing, and they do not favor our dear Ethereum.

Why, Oh Why, is Ethereum’s Price Plummeting?

It is a tale of regulatory woe, my friends. The nomination of Paul Atkins as SEC chair, once seen as a beacon of hope for our crypto brethren, has been met with resistance from Congress. It seems that the good people of the United States are not as enamored with the idea of pro-crypto policies as we had hoped.

This uncertainty has sent shockwaves through the Ethereum community, leaving traders scrambling to offload their ETH in favor of the more stalwart Bitcoin. Ah, Bitcoin, that paragon of stability and reliability, a true rock in the tempestuous sea of cryptocurrency.

Liquidity in Ethereum’s spot market has declined by a whopping 26% in the last 24 hours, a clear indication that buyers are few and far between. It’s a bleak picture, my friends, and one that suggests our beloved Ethereum may be in for a world of hurt.

12.3 Million Addresses at Risk: The Looming Bearish Signal

According to the wise folks at IntoTheBlock, millions of Ethereum addresses would slip into losses if prices fall below $1,600. And, alas, the latest data suggests that the largest accumulation zone for ETH holders sits between $1,596 and $1,790, with a staggering 8.73 million addresses holding a combined 3.61 million ETH in this range.

If Ethereum breaks below $1,600, it could trigger a cascade of sell-offs, further deepening the downturn. Ah, the horror! The humanity! The Ethereum holders will be left weeping and wailing in the streets, their once-loyal wallets now empty and forlorn.

ETH Price Forecast: Will Ethereum Break Down Below $1,750?

Ethereum’s price remains on shaky ground, trading at $1,808.82, as technical indicators flash warning signs of further downside risk. The daily chart reveals a sustained bearish trend, with price action struggling below key resistance levels.

The ADX breakout at $2,212 suggests significant resistance, and Ethereum’s failure to reclaim this level signals that bullish momentum is lacking. Ah, the cruel fate that has befallen our beloved Ethereum!

The MACD indicator paints a concerning picture, with the MACD line at -98.38 firmly below the signal line at -105.99. This suggests that downward momentum is still in control, weakening the case for a reversal. The declining histogram bars reinforce this bearish trend, showing that selling pressure remains dominant.

However, a glimmer of hope exists if Ethereum can reclaim $1,850 and flip it into support. This would signal a possible retest of $2,212, but bullish conviction is currently lacking. Ah, the cruel joke that is the Ethereum market!

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2025-03-31 02:06