Today, the price of Ether (ETH) has decreased over 4% to 2,575 USD. This drop mirrors a wider decline in the crypto market, with the total market cap falling by approximately 2.40%.
Open interest for ETH has dropped by 4.5% to 31.52 billion USD, highlighting a reduction in trader confidence as many investors exit the market, driving down prices.
The relative strength index indicates an overbought condition at 71 and 73, suggesting profit-taking. Ether faces significant resistance in the 2,600 USD to 2,800 USD range.
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