The cryptocurrency market continues to experience a downturn, with Ethereum (ETH) showing significant weakness compared to other altcoins. Analysts highlight that ETH is currently in a bear market, characterized by lower highs and a breakdown below key support levels, moving averages, and the Ichimoku Cloud indicator.
This trend has prompted some observers to draw comparisons between Ethereum and traditional precious metals like gold, suggesting that ETH has lower issuance than both gold and Bitcoin, yet still struggles in the current market environment. Overall, the sentiment remains bearish as investors assess the implications for both cryptocurrencies and precious metals.
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