Ethereum (ETH) has retested its crucial $2,800 support level for the second 
time this week, as the broader crypto market erases all its intraweek gains. 
Some market observers have weighed in on whether investors should worry about 
King of Altcoin’s performance. Related Reading: Analysts Say Dogecoin 
Consolidation Is About To End – Parabolic Run Or Crash Ahead? Ethereum Plunges 
Amid Broader Market Crash On Thursday, global markets experienced a sharp 
decline, with stocks, cryptocurrencies, and even precious metals erasing over 
$3 trillion in market value in just a few hours. Ethereum, the second-largest 
cryptocurrency by market capitalization, followed the market-wide correction, 
retracing 6.9% in the daily timeframe. The cryptocurrency has been hovering 
between $2,800 and $3,300 since the start of the year and attempted to reclaim 
the upper zone of this range this month. Nonetheless, the recent geopolitical 
tensions and macroeconomic uncertainty have weakened the appetite for risk 
assets and halted the crypto market’s early January momentum. According to 
Binance market data, Ethereum fell below $2,800 on Thursday morning, briefly 
bouncing before reaching a one-month low of $2,773. Meanwhile, the leading 
cryptocurrency by market capitalization, Bitcoin (BTC), saw a sharp 6.2% 
decline, reaching a two-month low of $83,934. Data from CoinGlass shows that 
crypto liquidations over the past 24 hours surged to nearly $1 billion, with 
$917.17 million in leveraged positions forcibly closed at the time of writing. 
During this period, 223,915 traders were liquidated, and the largest single 
liquidation order happened on Hyperliquid, valued at $31.64 million. Notably, 
more than half of the liquidations occurred in the past four hours, wiping out 
over $620 million since the morning. Around $422 million came from Bitcoin 
positions, while $160 million came from Ethereum positions. ETH Price In 
‘Endless Range’ Amid the market correction, some analysts shared their 
perspective on ETH’s price action. Sjuul from AltCryptoGems highlighted 
Ethereum’s price range in the daily chart, where the altcoin has hovered over 
the past two months. According to the analyst, there isn’t a clear trend as 
Ethereum continues to trade within its “seemingly endless range” between 
$2,600 and $3,350. He suggested that investors should wait for a proper 
breakout above the upper boundary or a breakdown from the range lows before 
celebrating or worrying. Similarly, trader EliZ affirmed that ETH’s macro 
perspective doesn’t show either real strength or weakness, but “an enormous, 
forced equilibrium” on the longer timeframes. He pointed out that ETH 
“continues to move within well-defined boxes, above and below the same levels 
for months/years, without ever building a directionality that can be described 
as structural.” Related Reading: Prediction Markets On BNB Chain Explode As 
Trading Volume Crosses $20B Based on this, the trader asserted that without a 
successful move and confirmation from its key range, short-term efforts don’t 
signal a “change of regime. Only liquidity rotation.” “We are not in a bullish 
phase, nor are we in a bearish phase. We are in a macro stalemate, where the 
market decides not to decide. Until we see a clean and sustained breakout of 
the indicated boxes …or a net loss of the same …any strong narrative is just 
storytelling,” he concluded. As of this writing, Ethereum is trading at 
$2,798, a 5.3% decline on the weekly timeframe. Featured Image from 
Unsplash.com, Chart from TradingView.com

Ethereum Drops Below $2,800 As Crypto Liquidations near $1B – Should Investors Worry?

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Warsh&#8217;s potential nomination could lead to policy shifts at the Fed, impacting 
economic strategies and possibly creating political tensions.
The post Trump administration set to nominate Kevin Warsh as next Fed chair 
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Strive completed a major bitcoin treasury financing, retiring legacy debt, 
expanding preferred equity funding and rapidly growing its bitcoin holdings as 
institutional demand fueled a balance sheet built for long-duration digital 
asset exposure. Strive Expands Bitcoin Treasury Past 13K Using Preferred 
Equity Strategy A corporate financing milestone was completed as a digital 
asset-focused firm advanced […]

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XRP price extended losses and traded below $1.80. The price is now 
consolidating and might decline further if it remains below $1.8250. XRP price 
started a fresh decline below the $1.80 zone. The price is now trading below 
$1.80 and the 100-hourly Simple Moving Average. There is a key bearish trend 
line forming with resistance at $1.8050 on the hourly chart of the XRP/USD 
pair (data source from Kraken). The pair could continue to move down if it 
stays below $1.8250. XRP Price Nosedives XRP price failed to stay above $1.90 
and started a fresh decline, like Bitcoin and Ethereum. The price declined 
below $1.850 and $1.8250 to enter a short-term bearish zone. The price even 
spiked below $1.750. A low was formed at $1.710, and the price is now 
consolidating losses. There was a recovery wave above $1.740. The price is 
approaching the 23.6% Fib retracement level of the downward move from the 
$1.938 swing high to the $1.710 low. The price is now trading below $1.80 and 
the 100-hourly Simple Moving Average. If there is a fresh upward move, the 
price might face resistance near the $1.7650 level. The first major resistance 
is near the $1.80 level. There is also a key bearish trend line forming with 
resistance at $1.8050 on the hourly chart of the XRP/USD pair. A close above 
$1.80 could send the price to $1.8250 or the 50% Fib retracement level of the 
downward move from the $1.938 swing high to the $1.710 low. The next hurdle 
sits at $1.850. A clear move above the $1.850 resistance might send the price 
toward the $1.880 resistance. Any more gains might send the price toward the 
$1.920 resistance. The next major hurdle for the bulls might be near $1.950. 
Another Decline? If XRP fails to clear the $1.80 resistance zone, it could 
start a fresh decline. Initial support on the downside is near the $1.740 
level. The next major support is near the $1.720 level. If there is a downside 
break and a close below the $1.720 level, the price might continue to decline 
toward $1.70. The next major support sits near the $1.6720 zone, below which 
the price could continue lower toward $1.650. Technical Indicators Hourly MACD 
– The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI 
(Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. 
Major Support Levels – $1.740 and $1.720. Major Resistance Levels – $1.7650 
and $1.80.

Cryptocurrency price in VEF