{"id":365178,"date":"2025-02-03T12:16:00","date_gmt":"2025-02-03T06:46:00","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=365178"},"modified":"2025-02-03T12:16:00","modified_gmt":"2025-02-03T06:46:00","slug":"key-levels-to-watch-what-this-means-for-altcoins-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/key-levels-to-watch-what-this-means-for-altcoins-crypto-news\/","title":{"rendered":"Key Levels to Watch & What this Means For Altcoins? – Crypto News"},"content":{"rendered":"

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Ethereum (ETH) experienced a sharp sell-off over the weekend and has dropped below the $3,000 psychological level. This collapse has triggered $613 million in liquidations in the past 30 hours. Let\u2019s explore why the Ethereum price is crashing and what\u2019s next for ETH and altcoins.<\/p>\n

Why is Ethereum Price Crashing?\u00a0<\/strong><\/h2>\n

Over the weekend, crypto markets experienced a massive sell-off, driven mostly by Bitcoin\u2019s collapse to $91K. This sudden nosedive caused Ethereum price to crash 25% in the past 12 hours, creating a daily low of $2,125.<\/p>\n

\"Ethereum
ETH\/USDT 1-hour chart<\/figcaption><\/figure>\n

The crypto market correction began after Trump signed an order imposing 25% tariffs on imports from Mexico and Canada and a 10% duty on China. These changes will take effect on Tuesday.<\/p>\n

Arthur Hayes, the co-founder of BitMEX commented on the current market conditions saying,<\/p>\n

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\u201cThe beatings shall continue until moral improves. The pain stops when a TradFi outfit is on the verge of bankruptcy. Then the Fed reluctantly joins team Trump and prints dat money. And then you better be ready to buy <\/span>#crypto<\/a><\/span> like you have never bought before.\u201d<\/span><\/p>\n<\/blockquote>\n

Key Levels to Watch for ETH Amid Crypto Market Crash<\/strong><\/h2>\n

The falling wedge formation that Ethereum price formed has come undone amid the crypto market crash. ETH blew through the $3,000 psychological level and swept the September 6 low of $2,150. The weekend crash created a swing low of $2,080.What\u2019s interesting is the ETH price<\/a> is up 20% from this swing low and trades around $2,500 as of this writing.<\/p>\n

As the price recovers, the immediate support level is $2,341. To the upside, the key resistance levels to watch include $2,657, $3,057, $3,132 ,$3,592, $3,975 and $4,069.<\/p>\n

\"Ethereum\"Ethereum
ETH\/USDT 1-day chart<\/figcaption><\/figure>\n

What\u2019s Next for Altcoins?<\/strong><\/h2>\n

With Bitcoin\u2019s collapse to $91K and Ethereum dropping down to $2,150, can altcoins recover?<\/p>\n

CryptoCapo, a popular analyst who forecasted a crash for ETH, posted to his Telegram hinting at the start of an alt season soon.<\/p>\n

However, the chart shows a bounce from $2,800 to $3,000, which was breached during the last 24 hours as ETH created a swing low close to the $2,000 psychological level. Regardless, the idea of an alt season persists and is dependent on a bounce from Ethereum price.<\/p>\n

\"ETHUSDT\"ETHUSDT
ETHUSDT Bounce Could Kickstart Alt Season<\/figcaption><\/figure>\n

Investors need to understand that most altcoins have now dropped more than 50% in the past few weeks. Popcat, Dogwifhat, and others have dropped 90% from their peak. Such corrections are often limited to bear markets.<\/p>\n

Does this mean crypto markets are in a bear market? No. Not essentially. Bitcoin\u2019s high time frame trend remains bullish and is likely to continue on an uptrend. As long as this remains intact, there is a good chance that altcoins bounce. Moreover, historical data shows that the post-halving years in February were bullish for altcoins, whihc is in line with what Capo is forecasting.<\/p>\n

\"Image\"\"Image\"<\/p>\n

All in all the outlook for the crypto market remains grim due to the recent crash. However, Bitcoin remains strong and above key BTC levels<\/a> are still intact. If there is a bounce in Bitcoin price, then Ethereum price forecast<\/a>, that remains neutral could flip bullish.<\/p>\n

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Frequently Asked Questions (FAQs)<\/h2>\n
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\n \tEthereum’s price is crashing due to a massive sell-off in the crypto market, driven by Bitcoin’s collapse to $91K and a 25% tariff imposed by Trump on imports from Mexico, Canada, and China. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n

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\n \tAccording to CryptoCapo, a popular analyst, an alt season might start soon, dependent on a bounce from Ethereum’s price. However, most altcoins have dropped over 50% in the past few weeks, with some dropping 90% from their peak. <\/p>\n<\/p><\/div>\n<\/p><\/div>\n

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\n \tNot essentially. Bitcoin’s high-time frame trend remains bullish, and as long as this remains intact, there’s a good chance altcoins will bounce. Historical data also shows that post-halving years in February were bullish for altcoins.<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/section>\n

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\u2713 Share:<\/p>\n

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Akash Girimath <\/p>\n<\/p><\/div>\n

Senior Cryptocurrency Analyst & Market Strategist
\nEngineer-turned-analyst Akash Girimath delivers data-driven insights on cryptocurrency markets, DeFi, and blockchain technology for platforms like AMBCrypto and FXStreet. Specializing in technical analysis, on-chain analytics, and risk management, he empowers institutional investors and retail traders to navigate market volatility and regulatory shifts.<\/p>\n

A hands-on strategist, Akash merges active crypto portfolio management with research on Web3, NFTs, and tokenomics. At AMBCrypto, he led cross-functional teams to redesign content frameworks, achieving record-breaking traffic growth through scalable editorial strategies. His analyses dissect market sentiment, investment strategies, and price predictions, blending macroeconomic trends with real-world trading expertise.<\/p>\n

Known for mentoring analysts and optimizing workflows for high-impact reporting, Akash\u2019s work is cited across global crypto publications, reaching 500k+ monthly readers. Follow his insights on YouTube, X, and LinkedIn for cutting-edge perspectives on decentralized ecosystems and crypto innovation. <\/p>\n<\/p><\/div>\n

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Ethereum (ETH) experienced a sharp sell-off over the weekend and has dropped below the $3,000 psychological level. This collapse has triggered $613 million in liquidations in the past 30 hours. Let\u2019s explore why the Ethereum price is crashing and what\u2019s next for ETH and altcoins. Why is Ethereum Price Crashing?\u00a0 Over the weekend, crypto markets […]<\/p>\n","protected":false},"author":2,"featured_media":365180,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-365178","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/365178","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=365178"}],"version-history":[{"count":3,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/365178\/revisions"}],"predecessor-version":[{"id":365182,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/365178\/revisions\/365182"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/365180"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=365178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=365178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=365178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}