Ethereum At Risk Of Further Decline: Top Investor Sets $2,150 Target If Support Breaks

Quick Summary:

Analysts are closely watching Ethereum’s next move and whether it can reclaim support levels to resume an upward trajectory.  The coming days are expected to be crucial for Ethereum’s price action, with investors bracing for heightened volatility in response to these shifting market conditions.

Many expected the bullish trend to continue, but Ethereum has struggled to maintain upward momentum.  Concerns are mounting as some market observers predict a deeper decline, possibly falling to yearly lows around $2,150 if the current support level fails to hold.

This recent price action has disappointed bulls, as ETH has lost crucial support levels, including the 4-hour 200 exponential moving average (EMA) at $2,542 and the simple moving average (MA) at $2,466.

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Article Details

Author / Journalist: Sebastian Villafuerte

Category: Crypto

Markets: United Kingdom

Topics: Ethereum Price analysis Ethereum bearish ETHUSDT Ethereum (ETH) Technical Analysis Ethereum Ethereum news Ethereum Ethereum downtrend Ethereum (ETH) Ethereum price

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-04 @ 00:30:21 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 499 words

Reading Time: 3 minutes read

Sentences: 68 lines

Sentence Length: 8 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 22873403

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