Ethereum Nears ‘Death Cross’ as Key Altcoins Struggle Below Long-Term Averages
Market Insight
Ethereum (ETH) is approaching a death cross, a widely watched bearish technical signal, as its 50-day simple moving average (SMA) nears a crossover below the 200-day SMA. Historically, this formation has been linked to extended downturns, but its accuracy in predicting prolonged declines remains debated.
ETH has dropped over 5% to $2,375 on Tuesday, with several major altcoins also facing downside pressure. BNB, Solana (SOL), Dogecoin (DOGE), and Chainlink (LINK) have all dipped below their 200-day SMA, a key threshold used by traders to gauge long-term trends.
Meanwhile, Bitcoin (BTC), XRP, TRON (TRX), Cardano (ADA), and Stellar (XLM) remain above their 200-day SMA, suggesting relative strength in certain areas of the market despite overall bearish sentiment.
