It is Ethereum's do-or-die moment as crash to $1,200 is possible if this action does not happen, warns top analyst Ali Martinez
According to this data, a significant number of ETH holders are currently experiencing losses, particularly in the price range of $1,633 to $1,681, where approximately 6.39 million tokens are in the red. Below this range, down to a minimum of $1,385 per ETH, buying support appears weaker, as indicated by the size of the corresponding green circles on the infographic.
This combination of a substantial number of Ethereum tokens incurring losses for their holders and weaker buying support at lower price levels raises concerns about the cryptocurrency's stability. Martinez suggests that unless there are catalysts for growth in the near future, Ethereum may be vulnerable to what experts refer to as"time capitulation.
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