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On Tuesday, ETHEREUM (ETH) re -testing the $ 2000 support zone, carrying over this level for the first time in more than a year. Some analysts suggested the second largest encryption that risk a 40 % correction, as it tries to keep the support level “between heaven and hell.”
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Monday, emptying ethereum to the lowest level in 15 months
Ethereum decreased to the lowest annual level of $ 1993, according to Binance Market data. The cryptocurrency fell to less than 2000 dollars for the first time in 15 months, and reached its lowest price since late November 2023.
Amid the recovery of the February Market, ETH failed to retain $ 3,000, hovering between $ 2,500 and 2,8'00 price range for most of the month, despite the collapse of the February 3 market to $ 2100.
However, the end of the month's correction witnessed that ETHEREUM is bleeding by 17 % to the lowest new level of $ 2076. For all Coinglass DataThe ALTCOINS king closed last month by 31.95 %, and the first of February recorded with red numbers since 2018.
ETH regained 17 % on Sunday, in an attempt to restore the level of resistance of $ 2500 after US President Donald Trump announced the creation of a “strategic coding reserve”, which will get Bitcoin and Ethereum “in the heart of” E.
On Monday, ETH fell to less than $ 2000 during the market emptying and another 40 % risk. Ali Martinez High This Ethereum may decrease to $ 1250 if he does not recover some key levels.
The analyst noted that Ethereum has been integrated into a parallel channel since 2024, as it has risen from the upper border of the channel to the middle or lower border before returning to the Alawite region.
However, ETH collapsed from the lower limits of the channel after declining to less than 2200 dollars last week. If the cryptocurrency does not recover the lower border of the channel, its price may be returned to $ 1,600 or even 1,250 support areas.
Martinez noted that the most important resistance barrier in Ethereum is $ 2,400, with more than 2.41 million investors bought 62,68 million ETH. For the analyst, it can “outbreaks this level” may “wipe the path to the gathering about 3000 dollars.”
Eth after Playbook book for market years?
As ethereum Re -test Some market monitors “between the sky and the hell” indicated that the last ETH performance is similar to the price of the 2018 and 2022.
According to The Pseudans Trader 5.0 inverted, King of Altcoins “after the market price 2018 and 2022”. Graph He appears This eth decreased steadily throughout those years, as it recovered 82.71 % and 68.29 % in 2018 and 2022, respectively.
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The cryptocurrency witnessed small price pools in the first six months of the two years, but it continued the declining direction. ETH decreased by 36.4 % of the year (YTD), indicating a similar performance for the years mentioned.
Another merchant Proposal This ETHEREUM decreased by 60 % from 4,200 dollars to 1800 dollars in the last session before pumping 170 % to an increase of $ 4,800 ever (ATH) in the coming months. According to the 2021 play book, the cryptocurrency may continue to perform negative before recovering at the end of the year.
At the time of this report, ETH regained about 7 % of its decline to less than $ 2000 and was traded at $ 2,135.
Distinctive photo of Unsplash.com, Chart from Tradingview.com
The post Ethereum $2,000 Support Retest Key For ETH’s Next Move first appeared on Investorempires.com.