Ethereum's price has been under pressure due to a broader market downturn impacting major cryptocurrencies. Investors are increasingly turning their attention to alternative assets like Rollblock (RBLK), which is gaining popularity for its innovative crypto-based gaming platform. This shift in focus comes as Ethereum struggles to break through resistance levels, with sellers actively preventing a strong rebound above $3,200. Despite significant purchases by major players, Ethereum continues to face resistance, leading to cautious market sentiment and predictions of further declines if it fails to break through current resistance levels.
The Volatility Shares Trust 2x Ether ETF (ETHU) experienced a notable increase, rising 3.81% to $7.08 as of 4:00 PM on Saturday, February 1.