Ethereum’s price has been dropping consistently over the past few months since it was rejected from the $4,000 level.
Meanwhile, there is still the possibility for a deeper decline in the coming weeks.
Technical Analysis
By Edris Derakhshi (TradingRage)
The Daily Chart
On the daily chart, the asset has been trending lower since it failed to break above the $4,000 resistance zone. It has since broken below several support levels, including the $3,000 line and the 200-day moving average, located around the $2,900 mark.
Yesterday, the altcoin rebounded from the $2,400 support zone, but it’s still likely to drop back toward it as the RSI is still showing a clear bearish momentum signal. If the $2,400 level is lost, things could get much worse, as a drop toward the $2,000 mark and even lower could be expected.
The 4-Hour Chart
Looking at the 4-hour chart, the price has been consolidating for almost 3 weeks since the massive drop from the $3,500 area.
However, the asset has once again be
We współpracy z: https://cryptopotato.com/eth-risks-falling-to-2k-if-this-support-fails-ethereum-price-analysis/
