randomm

Ethereum Price Analysis: ETH Faces Deeper Troubles, Risks Falling to $2.4K

On the daily chart, it is evident that ETH has been experiencing a massive crash since breaking below the 200-day moving average, which is currently located around the $3,000 mark.

While the price has even tested the $2,100 support zone during the crash, it has recovered and is currently testing the $2,700 level from below. If the market is able to reclaim this level and the 200-day moving average soon, a new bullish trend could begin. On the other hand, if it fails, the $2,400 support level will be the first target for a subsequent bearish move.

Ethereum Price Analysis: ETH Faces Deeper Troubles, Risks Falling to $2.4K

On the daily chart, it is evident that ETH has been experiencing a massive crash since breaking below the 200-day moving average, which is currently located around the $3,000 mark.

While the price has even tested the $2,100 support zone during the crash, it has recovered and is currently testing the $2,700 level from below. If the market is able to reclaim this level and the 200-day moving average soon, a new bullish trend could begin. On the other hand, if it fails, the $2,400 support level will be the first target for a subsequent bearish move.

https://cryptopotato.com/ethereum-price-analysis-eth-faces-deeper-troubles-risks-falling-to-2-4k/