Ethereum’s price has been making lower highs and lows recently, following a decisive reversal from the key $2,000 area. Considering the current market structure, more downside can be expected.
Technical Analysis
By Edris
The Daily Chart
On the daily chart, the price has recently broken below the $1,650 support. However, this level is currently being retested. A further bearish continuation is likely if the price fails to climb above the broken level soon.
The recent bearish crossover between the 50-day and 200-day moving averages is also a negative signal, indicating the potential beginning of a downtrend in the coming weeks.
Source: TradingView
The 4-Hour Chart
Looking at the 4-hour timeframe, it is evident that after weeks of testing the $1,650 support zone, the price has finally broken through and is currently pulling back towards it.
If the market rises above the $1,650 level in the coming days, a rally toward $1,750 is imminent. Otherwise, a deeper decline would materialize, spr
We współpracy z: https://cryptopotato.com/will-eth-really-drop-to-1000-ethereum-price-analysis/
