đ Ethereum Alert: Ethereum (ETH) Risks Trip to $2,000 If This Level Falters đ
đš Market Update: Ethereum (ETH) has been navigating choppy waters, shedding 2.66% in the last 24 hours and currently hovering at $2,408. Investors are on high alert as the crypto giant treads a crucial path.
đŻ Key Support Zone: $2,388 - $2,460 đŻ
Analyst Ali (@ali_charts) identifies a pivotal demand zone for ETH, teetering between $2,388 and $2,460. Success in holding this fort could pave the way for a bullish resurgence, offering minimal resistance for an upward trajectory.
đ Caution: Risk of a Dive to $2,000 đ
However, the stakes are high. If Ethereum falters in maintaining this support level, a potential dive to $2,000 looms largeâa 17% drop from the current $2,408. Beyond this, the SMA 200 at $1,923 becomes a critical support juncture, with a breach opening doors to further losses.
đ Potential Scenarios Unveiled: đ
Bullish Reversal: A bounce off the support zones could reignite ETH's uptrend, targeting $2,614 initially and setting sights on $2,717 and $2,900. Bulls eyeing the ultimate prizeâreclaiming the elusive $3,000 psychological level.
Bearish Warning: Failure to sustain could trigger a bearish trend, with potential downturns to $1,800 and $1,700. The SMA 50 at $2,338 acts as a short-term defense against losses.
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