Analysis: Ethereum is currently at a critical support level, a break below could lead to a price decline to under $2800
Cryptocurrency traders analyze that the price of Ethereum has currently reached a key support level and is at a critical point. If it fails to hold, it may cause a drop below $2800. MN Trading founder Michael van de Poppe said, "If this key point fails to hold, Bitcoin may test $60,000 and Ethereum will test $2,800 as the final major correction." Anonymous cryptocurrency trader Crypto Wealth believes that "before a complete reversal, the only other level that prices might reach is around $2700." Anonymous cryptocurrency trader Poseidon added, "At this point, the price should sweep past the low of $2800 and test weekly demand with fluctuations in the range of about $2500-$2700."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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