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- Ethereum plunges below $1,600 as investor losses deepen and selling pressure grows.
- Trading volume surges over 570% as Ethereum dips to $1,473 amid a market-wide crypto downturn.
- CryptoQuant highlights $1,290 as the next key support level, with whale activity likely to influence recovery.
The relentless bearish market force drives Ethereum prices down into regions under $1,700 and $1,600. The daily price low for the asset reached $1,473 before it rebounded partially to $1,553.62, based on CoinMarketCap data.
Market participants worldwide have expressed concerns about trade tariff tensions, which have caused Ethereum’s recent price to falter. The investor selloff has strengthened selling pressure, causing Ethereum to drop below its $1,600 value.
According to CryptoQuant, many investors are holding Ethereum at a loss, with the average entry price estimated at $2,200. If Ethereum drops to its next recognized support at $1,290, some holders could experience token losses amounting to $910.
Market participants have sent trading volumes soaring because they sell positions to minimize their losses or purchase with reduced prices. According to their reports, Ethereum trading volumes on CoinMarketCap increased by 570.91 percent in one day, exceeding $52.37 billion.
The analysis from CryptoQuant indicated that growing trading activity might show investors using this opportunity to reposition their assets. The analytics firm defined $1,290 as a vital investing threshold for investors to start repurchasing Ethereum.
Ethereum Whales May Intervene as Market Faces Further Pressure
In its latest analysis, CryptoQuant suggested that whales, wallets holding over 100,000 ETH, could play a pivotal role if the downtrend persists. Major token holders tend to make buy-and-hold investments since they enter major market downturns to build their token positions, thereby stabilizing prices.
Market analysts continue to evaluate whale habits to detect potential accumulation behaviors at reduced price points. If the support level is $1,290, this may prevent further deterioration in the Ethereum market.
Despite the current bearish trend, the recent spike in trading volume indicates that investor interest remains strong. Short-term price fluctuations will determine which parties in this market currently hold the buying or selling power.
The cryptocurrency market and investor capital experienced intensified stress because Ethereum fell below its $1,600 mark. The market watches whale intervention levels and important support points as traders monitor whether present price declines will continue or settle.
