Key Developments & Price Action:
Ethereum lost its key support at $2,400 and has dropped 21% over the past week, following widespread crypto market declines.
ETH is now in a vulnerable position, struggling to find stability after this sharp sell-off.
Critical Support & Downside Risks:
The $2,000 psychological level is crucial—if ETH fails to hold above it, further downside pressure is likely.
The next major support is at $1,800, a level last seen during the 2023 bear market.
A sustained move below $2,000 could confirm a bearish market structure, increasing the probability of continued selling pressure.
Potential Scenarios:
Bullish Case: ETH stabilizes above $2,000 and begins a relief bounce toward $2,200–$2,400, reclaiming lost support levels.
Bearish Case: ETH breaks below $2,000, confirming a deeper correction, with $1,800 as the next downside target.
Market Outlook:
For now, Ethereum remains bearish and requires strong buyer support at $2,000 to avoid a deeper sell-off.
A weekly close below $2,000 would signal further weakness, while a rebound above $2,400 would help regain bullish momentum.
Caution is warranted until ETH confirms a clear bottom formation.
Ethereum lost its key support at $2,400 and has dropped 21% over the past week, following widespread crypto market declines.
ETH is now in a vulnerable position, struggling to find stability after this sharp sell-off.
Critical Support & Downside Risks:
The $2,000 psychological level is crucial—if ETH fails to hold above it, further downside pressure is likely.
The next major support is at $1,800, a level last seen during the 2023 bear market.
A sustained move below $2,000 could confirm a bearish market structure, increasing the probability of continued selling pressure.
Potential Scenarios:
Bullish Case: ETH stabilizes above $2,000 and begins a relief bounce toward $2,200–$2,400, reclaiming lost support levels.
Bearish Case: ETH breaks below $2,000, confirming a deeper correction, with $1,800 as the next downside target.
Market Outlook:
For now, Ethereum remains bearish and requires strong buyer support at $2,000 to avoid a deeper sell-off.
A weekly close below $2,000 would signal further weakness, while a rebound above $2,400 would help regain bullish momentum.
Caution is warranted until ETH confirms a clear bottom formation.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.