Phemex Anaylsis #3: ETH Price Tumbles & Key Support Levels.
The price of Ethereum (ETH) experienced a significant decline today, breaching the previously strong support zone at $2,850. This price movement indicates a potential shift in the market sentiment.
Traders are now closely watching the next support level at $2,250. This zone is considered historically significant and could offer some stability to the price. However, if the selling pressure persists and ETH breaks below $2,250, the next potential support level to watch would be around $2,000.
It's crucial to exercise caution while trading in such volatile market conditions. While there might be opportunities for profit, the risks are equally substantial. Consider using Low Leverage & Stop Loss to manage risk effectively during this period of uncertainty.
Note: Phemex had Launch IceBerg order to help you Enter with minimum slippage. Be sure to check it out!
Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.
Traders are now closely watching the next support level at $2,250. This zone is considered historically significant and could offer some stability to the price. However, if the selling pressure persists and ETH breaks below $2,250, the next potential support level to watch would be around $2,000.
It's crucial to exercise caution while trading in such volatile market conditions. While there might be opportunities for profit, the risks are equally substantial. Consider using Low Leverage & Stop Loss to manage risk effectively during this period of uncertainty.
Note: Phemex had Launch IceBerg order to help you Enter with minimum slippage. Be sure to check it out!
Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.
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