Ether's "Death Cross" Looms as Crypto Market Mixed

Ether's price has dropped by over 5% to $2,375 on Tuesday, with its 50-day simple moving average (SMA) on track to cross below the 200-day SMA, potentially confirming the so-called "death cross." This pattern suggests that the short-term momentum is about to underperform the long-term average, which could evolve into a major bearish trend. However, the indicator's record in predicting price trends is mixed.

Other major tokens are also under pressure, with BNB, SOL, DOGE, and LINK trading below their 200-day SMAs, similar to ETH. The 200-day average is widely considered a barometer of long-term trends, with dips below the same associated with a bearish sentiment. In contrast, BTC, XRP, TRON, ADA, and XLM hover above their 200-day SMA.