Ethereum recently fell to 1,300 USD amidst external market volatility. Influential figures like Trump and Musk have exacerbated this situation, leading to cautious investor sentiment.
The MVRV Z-Score indicates a bearish outlook, especially if it drops below 1.03, risking a decline towards 2,323 USD. Recovering above 1.90 could signal a bullish trend for Ethereum.
With the current Taker Buy-Sell Ratio indicating seller dominance, the outlook for Ethereum remains tentative. Without reclaiming key levels, a broader rally seems unlikely.
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