ETH plunges again, breaking through key support! Market winter or the eve of rebound?

Ethereum (ETH) suffered a heavy blow today, and the price fell below the key $24,000 mark! With the adjustment of US stocks and the plunge in Nvidia's market value, the global crypto market is under tremendous pressure. Bitcoin led the decline, followed by ETH, which plunged 6.18% in 48 hours.

Key question: Can ETH counterattack? From the current technical point of view, ETH has failed to break through the resistance of the downward channel, the 50/200-day EMA continues to fall, and the RSI is below the neutral point. The market sentiment is extremely fragile. The ETH spot ETF also performed poorly, and suffered continuous capital outflows in early September, and the market's confidence in Ethereum was further shaken.

But be aware that once the market sentiment reverses, ETH is expected to hit the resistance level of $2,530, or even rebound to $2,800. However, continued bearish pressure may push ETH to the support level of $2,175. The current market is like a dancer on the edge of a cliff. Is the next step a cold winter or dawn?

Follow the senior to see through the market situation and capture the best entry time!

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