Ethereum

Spike

<p>Over the last 24 hours, the cryptocurrency market has been clicked, and from ether, the altcoin king and second-largest by market capitalization, the price has been retracted. Such a move within the market caused liquidations of $1.72 billion for 571,838 traders here, with one particular <a href="https://www.thecoinrepublic.com/price-prediction/ethereum/">Ethereum</a> whale biting the dust for $19.69 million after Ethereum price dropped sharply.</p> 
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   <p lang="en" dir="ltr">In the past 24 hours, 571,838 traders were liquidated for a total of $1.72B!<br><br>Among them, a whale was liquidated for $19.69M when <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a>'s price dropped to $3,613.16.<a href="https://t.co/MT0EgNW8ib">https://t.co/MT0EgNW8ib</a> <a href="https://t.co/T7htQUQXY8">pic.twitter.com/T7htQUQXY8</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1866293030254432517?ref_src=twsrc%5Etfw">December 10, 2024</a>
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<p>Actually, Ethereum’s price trajectory has been nothing short of dramatic! That prompted a spate of liquidations as the digital currency plummeted to a low of $3,613.16.</p> 
<p>Of these, the biggest was the $19.69 million lost by an Ethereum whale. This highlighted the very high risks stemming from leveraged crypto trading in the volatile crypto market. This is not only a story of personal risk but also one of market risk. As their movement brings about such substantial price changes.</p> 
<h2 class="wp-block-heading" id="h-analyzing-the-impact-on-ethereum-s-market-dynamics"><strong>Analyzing the Impact on Ethereum’s Market Dynamics</strong></h2> 
<p>Ethereum’s market valuation again shrinks, and it is down 3.80%. It fell from $465.47 billion to $445.47 billion, following this dramatic price fall. Unprecedented trading volume for Ethereum came to be seen, as Ethereum saw a trading volume increase from 119.87%. </p> 
<p>It’s a frenzy, mirroring a market in play when buying and sell-offs come in rapid succession as people scramble to figure out what to do.</p> 
<p>However, even in all of this, <a href="https://www.thecoinrepublic.com/2024/11/21/ethereum-price-prediction-eth-price-to-outperform-btc-hit-10k/">Ethereum</a> is a giant among cryptocurrencies. It is backed with quality infrastructure and wide adoption, both of which would do the market a lot of favors if solidified. The recent price actions have deterred investors. Many are rethinking their positions and strategies on their portfolios in the digital asset.</p> 
<h2 class="wp-block-heading" id="h-ethereum-price-technical-analysis-and-future-outlook"><strong>Ethereum Price Technical Analysis and Future Outlook</strong></h2> 
<p>From a technical point of view, the Ethereum price chart looks overvalued and very uneven. But it is still not at the end. The price is testing new support levels around the $3,600 mark. </p> 
<p>If these levels hold, that would be a consolidation phase. However, there is no dismissing the chance of it dropping even further without steps toward a bullish bottom.</p> 
<p>The Average Directional Index (ADX) is a quickly adapting Technical Indicator that tracks a strong but perhaps stabilizing trend. That implies the sharp decline could start to slow momentum. It could eventually give way to a time when the market settles into a less volatile space.</p> 
<p>The question now for Ethereum price and its investors is whether the digital currency can recover to the $4,000 level. </p> 
<p>Ethereum price will not be able to recover all on its own; there will be several factors: how the Ethereum network will introduce technological developments, overall market sentiment, and what economic factors will influence liquidity and investment in the cryptocurrency markets.</p> 
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 <img loading="lazy" decoding="async" width="1024" height="510" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-183-1024x510.png" alt="1-hour ETH/USD Chart | Source: TradingView Ethereum price" class="wp-image-872899" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-183-1024x510.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-183-300x149.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-183-768x383.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-183-1536x765.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-183-150x75.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-183-696x347.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-183-1068x532.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/12/image-183.png 1600w" sizes="auto, (max-width: 1024px) 100vw, 1024px">
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  1-hour ETH/USD Chart | Source: TradingView
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<p>Despite its continued developments in security and scalability, Ethereum’s long-term prospects ensure that optimism is far from over. Additionally, the broader adoption of blockchain technology and decentralized applications that use and increasingly rely on the <a href="https://www.thecoinrepublic.com/2024/11/25/ethereum-price-prediction-4000-next-amid-bull-flag-breakout/">Ethereum</a> platform underpin growth.</p> 
<p>The recent liquidation event is a strong reminder of the consequences of leveraged trading in cryptocurrency. Ethereum investors must continue to navigate these superheated times by focusing on long-term fundamentals of Ethereum price while remaining alert for short-term market movements.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/12/10/ethereum-price-retrace-will-the-alt-king-reclaim-4k/">Liquidations Spike as Ethereum Price Dip: Can the ETH Reclaim $4K?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Liquidations Spike as Ethereum Price Dip: Can the ETH Reclaim $4K?

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