ETH/USD – Ether Breaks Consolidation & Hits $2000.
Key Support Levels: $2000, $1925, $1888.
Key Resistance Levels: $2200, $2340, $2400.
Ethereum is now down a sharp 20% on the week as the cryptocurrency crashes into the $2000 support. It had been trading inside a symmetrical triangle pattern over the past three weeks but ended up breaking this consolidation on Friday as it dropped to $2200.
Yesterday, ETH showed signs of weakness after spiking into the Feb 2021 highs at $2036. It rebounded to close the daily candle for around $2245. Today, however, the sellers retook control and pushed ETH as low as $1975.
It has found support at $2000, a round psychological number bolstered by a .786 Fib Retracement. A break beneath here could send ETH much lower over the coming weeks.
ETH/USD Daily Chart. Source: TradingView.
ETH/USD 4-Hour Chart. Source: TradingView.
ETH-USD Short Term Price Prediction
Looking ahead, if the bears break $2000, the first support lies at $1925 (May 23rd 4-HR rebo
Źródło: https://cryptopotato.com/ethereum-price-analysis-eth-crashes-20-weekly-will-2000-support-hold/
