CandleFocus Ethereum At Risk Of Further Decline: Top Investor Sets $2,150 Target If Support Breaks
2024-10-04
Author: Content Editor
Ethereum has experienced a 15% decline from its recent high of $2,729, disappointing analysts and investors who were expecting the bullish trend to continue. Concerns are growing as some experts predict a further drop, potentially reaching yearly lows of $2,150 if current support levels are not maintained. This has caused fear and uncertainty in the market, with the direction of Ethereum's price being closely watched. The next few days are expected to be crucial for Ethereum, with heightened volatility anticipated. If Ethereum fails to hold key support levels, it could signal a broader market decline. Analysts are particularly focused on a trendline supporting ETH's price and warn of a significant drop if it breaks. Currently trading at $2,350, ETH has lost important support levels, raising concerns about downside risk. For a bullish continuation, ETH needs to break above certain indicators and maintain them as support. If not, a deeper correction is likely, with key support around $2,100 being the next target.
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