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Ethereum (ETH) Loses $1,800: Key Price Levels to Watch
The Ethereum market has been under immense pressure lately, with the price of ETH dropping below the critical level of $1,800. This significant decline could have a profound impact on investor sentiment and potentially influence the overall cryptocurrency market.
From a technical standpoint, it is essential to acknowledge that Ethereum is currently facing its next substantial support at $1,750. If this barrier fails to hold, we can expect the price to plummet towards the previously established level of $1,600.
On the other hand, significant resistance remains around the 50 EMA at $2,178. Any breakthrough above this point could potentially spark a strong reversal in the market’s dynamics.
As of now, the path of least resistance appears to be downward until Ethereum breaks out of its falling wedge structure or a strong reversal pattern emerges. Given the cautious investor sentiment and the uncertainty caused by recent high-profile selling, near-term prospects for ETH could continue to be challenging.
The opinions expressed here are not investment advice; they are provided for informational purposes only.
Source: https://u.today/ethereum-eth-loses-1800-key-price-levels-to-watch
