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Ethereum price dips to $3,830 as key indicator signals momentum breakdown

  • Ethereum fell to $3,830 on Thursday, dropping nearly 9% in 24 hours as Bitcoin dived to near $108,000.
  • Crypto analyst IncomeSharks highlighted Ethereum price weakness amid the OBV indicator breakdown.
  • XRP, Solana and BNB also dropped to or below key levels as cryptocurrencies plummeted.

Ethereum (ETH) price has experienced significant volatility in the past week, with its value extending its decline in the past 24 hours as bears pushed the token to lows of $3,830.

Having traded above $4,760 earlier this month, the near 9% dip in the past 24 hours and 16% dive in the past week have ETH hovering at a key level.

Broader weakness that also has Bitcoin near $108,000 and top altcoins struggling could align with a technical breakdown to see Ethereum’s price plunge to lows of $3,500 in the short term.

Ethereum price dives nearly 9% as key indicator signals breakdown

The latest dump for cryptocurrencies has Ethereum’s price hovering below $3,850 as of writing.

While bulls could reclaim the area above $3,860 and eye $4,000, analysts are pointing to a critical breakdown in the On-Balance Volume indicator as a potential signal for further losses.

As crypto analyst IncomeSharks highlighted on X, the ETH price is down amid a breakdown of the OBV momentum.

The indicator, which measures cumulative volume flow, showed a clear divergence from price action, and IncomeSharks says that while it retains the horizontal support, it is signalling weakness as buying pressure wanes.

Per the analyst, the loss of momentum suggests a bearish outlook.

On the weekly chart, Ethereum price has touched a key level below which sellers could target support around $3,500.

Both the weekly relative strength index (RSI) and on-balance volume (OBV) are downsloping.

The RSI remains above 55, suggesting room for bulls to navigate the downside pressure.

Notably, the daily RSI puts Ethereum in oversold territory, which might mean bear exhaustion.

Ethereum price chart by TradingView

Top altcoins fall to critical support levels

The downturn in Ethereum’s price is not an isolated event, as several top altcoins have also breached critical support levels.

As noted, this comes amid a broader market correction that aligns with the wobbly action seen on Wall Street over the past two days.

With BTC dropping to near $108,000 and Ethereum slipping to intraday lows near $3,800, top alts XRP, Solana (SOL), and Binance Coin (BNB) followed suit.

XRP was down 6% to $2.78 amid a downtrend line breakdown, while Solana, after a brief rally in recent days, has corrected to dip below $200.

A 7% drop in the past 24 hours saw SOL price hover near $197.

Meanwhile, BNB has encountered resistance after a notable surge that included multiple new all-time highs above the $1,000 mark.

But with profit taking widespread, BNB price held near $964, about 5% down in the past 24 hours.

The post Ethereum price dips to $3,830 as key indicator signals momentum breakdown appeared first on CoinJournal.

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World Liberty’s WLFI holds steady as Robinhood listing sparks interest

  • WLFI displays resilience amid broader market bloodbath.
  • Robinhood has listed the token today, boosting investor trust and visibility.
  • Cryptos struggle as September history unfolds.

The digital assets industry slumped on Thursday as Bitcoin dipped from above $112,000 to $110,700.

The global crypto market drifted further below the $4 trillion psychological mark after a 2.5% 24-hour dip to $3.81 trillion.

While altcoins appear to suffer the most, with many halting their bullish structures with double-digit declines, Trump-linked WLFI held steady.

World Liberty Financial’s token gained a modest 0.64% on its daily chart amid market-wide slumps.

The resilience comes after the DeFi project scored a Robinhood listing today.

The integration renewed interest among the crypto community as it translates to increased visibility to the retail audience.

Also, the compliant, commission-free trading platform adds credibility to WLFI, which remains tied to political developments.

The native token maintained stability following the listing updates and seems ready to lead the next leg up.

Robinhood boosts WLFI sentiments

Robinhood has gained a reputation as a leading trading platform for retailers, allowing individuals to access both cryptocurrencies and traditional stocks.

Most importantly, the platform prioritizes compliance, meaning it lists financial instruments after significant scrutiny.

Many believe digital tokens on Robinhood are legitimate, with impressive future potential.

Therefore, WLFI’s listing on the trading platform marks a key breakthrough for World Liberty Financial.

DeFi enthusiast Chence Alpha expects magnified liquidity as smart-money ventures into the token.

The move indicates growing recognition after the native token’s September 1 official debut.

Cryptocurrency enthusiasts love Robinhood for its user-friendliness and reduced entry barriers.

Even individuals who might have never interacted with decentralized exchanges (DEXs) can purchase WLFI tokens from the application.

Meanwhile, this development has likely cushioned WLFI against the prevailing broader market downturn.

Magnified exposure and easier entry could attract another wave of investors.

That will boost trading volumes and support price performances, essential factors as the alt eyes rebound to post-listing peaks above $0.30.

WLFI price outlook

The native coin outperformed markets today as it remained stable despite notable dips in the overall market.

WLFI trades at $0.2019 after a 0.64% increase on its daily chart.

The soaring daily volumes, currently above $500 million, signal reinvigorated optimism in the altcoin.

Nonetheless, the broader market outlook remains crucial for WLFI’s near-term trajectory.

Exchange listings trigger short-lived gains, and unless bulls amplify actions, corrections follow once the hype fades.

Bears dominate the cryptocurrency space, and the market might underperform in the coming sessions.

History shows September closes with losses, and that means sellers could have an upper hand as October approaches.

Experts view the current dips as a normal September rest before “Uptober” rallies.

Analyst Michael van de Poppe believes this is “the final correction before the big run” that could see altcoins surge up to 10x.

Bitcoin’s performance and potential swift recovery above $113,000 would support WLFI’s stability and catalyze the anticipated breakout past the $0.3 psychological mark.

The post World Liberty’s WLFI holds steady as Robinhood listing sparks interest appeared first on CoinJournal.