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Ethereum (ETH): $2,000 Might Be Lost Today
A dismal technical outlook for Ethereum has been revealed, casting a shadow over the cryptocurrency’s future performance. The recent price drop and loss of significant psychological support at $2,000 may lead to an even more severe correction.
As per market analysis, the current price movement is not showing any signs of reversing momentum anytime soon. The resistance level at $2,200 will need to be overcome in order for a turnaround to occur. Until then, Ethereum could continue to decline, with potential support zones around $1,800 and even $1,700.
The possibility of a short-term rebound due to the RSI (Relative Strength Index) being oversold cannot be ruled out entirely. However, this would require a significant shift in market sentiment, which is yet to materialize.
It’s essential for investors to keep an eye on Ethereum’s performance and consider adjusting their positions accordingly based on any changes in the price action.
Source: https://u.today/ethereum-eth-2000-might-be-lost-today
