Ethereum Price Likely to Crash to $2,000 Amidst Warning Signs
Analysts express concerns about Ethereum's price action, indicating a potential crash to the $2,000 level despite a recent increase following Bitcoin's surge.
Key Points
- Ethereum is currently trading around $2,605 after being rejected from a local high of $2,788.
- A report by Master Ananda suggests a short-term top has been reached, with a corrective move likely.
- Technical forecasts indicate a possible retracement toward $2,000 or lower before any bullish momentum resumes.
- The analysis notes a bearish divergence and a failure in volume to confirm new highs.
- Support levels include $2,280 (0.382 Fibonacci), $2,085 (0.5 Fibonacci), and $1,900 (0.618 Fibonacci).
- The potential support range for higher lows is identified between $1,900 and $1,735, while caution is advised due to the risk of a deeper drop to $1,385.
- Investors are encouraged to wait for reactions at support zones before making decisions, with buying opportunities highlighted around $1,900 to $1,736.
