Ethereum Faces Threat of Plunge Below $1,000 as Price Range Tightens

Ethereum’s price action is signaling a potential downturn as it struggles to maintain momentum within its multi-year trading range. Despite recent attempts at stabilization near the midpoint, technical indicators suggest an imminent drop towards lower levels, potentially below the crucial $1,000 mark. This raises concerns about the future trajectory of Ethereum and its ability to sustain bullish momentum. The current consolidation suggests a fragile situation, with buyers yet to emerge and offering little support for price movements.