Ethereum Approaches ‘Death Cross’ as Key Altcoins Slip Below 200-Day Average
Market Overview
Ethereum (ETH) is on the verge of forming a death cross, a bearish technical pattern where the 50-day simple moving average (SMA) crosses below the 200-day SMA. While this indicator is often seen as a warning of potential downside, its reliability in predicting long-term trends remains uncertain.
ETH has declined over 5% to $2,375, mirroring broader market weakness. Several major cryptocurrencies, including BNB, Solana (SOL), Dogecoin (DOGE), and Chainlink (LINK), have fallen below their 200-day SMA, a key level used by traders to assess long-term momentum.
In contrast, Bitcoin (BTC), XRP, TRON (TRX), Cardano (ADA), and Stellar (XLM) are still holding above their 200-day SMA, signaling potential resilience in certain sectors of the market despite the bearish pressure.
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