Ethereum has experienced a sharp decline, dropping to the critical $2K support level. The drop was triggered by market uncertainty and a rejection at the 200-day moving average. The $2K region has provided significant support, but if it fails, further declines could be likely. The market is expected to consolidate within the $2K-$2.5K range until a breakout occurs. The recent liquidation cascade has led to heightened volatility, but Ethereum has found strong support at $2K, signaling potential stabilization. If Ethereum sustains its position and builds momentum, it could enter a new bullish wave.



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