Ethereum Risks Another 15% Correction After Falling Below $2,000

1 min

Ethereum (ETH) has dropped to a 17-month low, registering a 15% correction from $2,150 to $1,810, losing the key $2,000 support level. Analysts warn of a potential further decline of 15%, with predictions suggesting it could retest levels between $1,600 and $1,800.

Key Points

ETH touched $1,750 before recovering slightly to $1,900.
Performance shows a 53% retracement since its December peak.
Current performance mirrors levels seen during the FTX crash.
ETH requires closing above $2,237 this month to avoid the second-worst historical performance.
Sentiment indicates a possible bullish trend towards the end of the year based on historical patterns.

The cryptocurrency is currently trading at around $1,947, reflecting a 4.47% increase within the day.