Ethereum Struggles Below $2,000 Amid Increased Selling Pressure
Ethereum (ETH) has dropped below the critical $2,000 level, with current trading at $1,910. Key points include:
- ETH held above $1,930 since March 19 but is nearing the $1,900 mark.
- Selling pressure and market volatility are raising concerns about a deeper correction.
- Resistance at $2,100 remains unbroken, indicating potential trouble ahead if buyers do not intervene.
- Analyst Carl Runefelt warns that failure to hold above $1,880 could lead to aggressive selling, possibly retesting lows around $1,750.
- The broader crypto market faces macroeconomic challenges, including inflation and recession fears, impacting investor confidence.
- Without reclaiming the $2,000 level, ETH risks further downside momentum.
Traders are closely monitoring market conditions as Ethereum's price structure remains fragile.
