Ethereum Struggles to Keep Up!
Ethereum closed the week down by 6% after failing to push past $2,800, leaving it in a steep downtrend that has traders on edge. While buyers are eyeing the support at $2,400 as a potential reversal point, ETH’s continued underperformance compared to Solana (up 11%) and Bitcoin hints at deeper structural weaknesses. Ethereum’s momentum on lower timeframes remains bearish, adding risk for those looking to enter long positions. Despite its dominance in DeFi, Ethereum's lack of movement makes it a challenging trade.
Trading Tip: Watch $2,400 closely—if $ETH loses this support, it may signal even more downside ahead. Sometimes, sitting on the sidelines or shifting to stronger assets can be a strategic move.