Ethereum in a Tough Spot as Crypto Woes Persist
ETH/USD Analysis
It has so far been a tumultuous month for the Crypto world, as crypto exchange FTX recently filed for bankruptcy [1], after its liquidity crunch that shocked the industry. This comes on the back of a very bad year for digital coins and related firms, amidst tightening regulatory environment and fears over the health of the industry.
ETH/USD sheds close to 30% of its value in November and remains in a perilous state, as markets monitor the fallout from the FTX collapse. The popular altcoin had put up a resistance earlier in the month and had avoided 2022 lows, but this reaction proved short-lived. It stays on the defensive and in risk of fresh lows towards the 1K mark, although it may be early to talk about further slump that would challenge 879.50.
On the other hand, ETH/USD showed some resiliency last week and a close the weekend gap (at around 1,200) would not be surprising. However, a significant change in sentiment would be required for daily closes above the EMA200 (currently at 1,360-5), which would pause downside bias.
Nikos Tzabouras
Senior Financial Editorial Writer
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. With extensive experience in market analysis and a strong foundation in international relations, he brings a unique perspective to financial markets. Nikos emphasizes not only technical analysis but also on fundamentals and the growing influence of geopolitics on financial trends.
As a Senior Financial Editorial Writer, he delivers comprehensive and forward-looking insights across a wide range of asset classes, including equities, commodities, and currencies. His work explores how macroeconomic events, political developments, and global policies impact market dynamics, providing readers with a deeper understanding of both short-term movements and long-term trends.
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| Retrieved 17 May 2026 https://twitter.com/FTX_Official/status/1591071832823959552 |
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