Ethereum Price Prediction, ETH Bears About to Take Control over

Key Takeaways
  • Ethereum experiences a pullback as the momentum of its recent rally begins to wane.
  • Concurrently, Bitcoin undergoes a decline, sliding from $45,000 to levels below $41,000.
  • In response to these market dynamics, traders are redirecting their attention towards alternative tokens such as Solana and Avalanche.
18-12-2023 By: Lokesh Gupta
Ethereum Price Prediction, ETH Bears About to Take Control over

ETH slips below $2,200 support, signaling potential drop under $2,000.

  • According to Coingabbar Technical Analysis, Ethereum faces a significant decline, breaking the crucial support level of $2,200.

  • ETH, is currently in a bearish phase, raising concerns about a potential drop below the key $2,000 mark.

  • The decline in Ethereum's value is attributed to its inability to sustain momentum around the $2,330 resistance zone.

  • The price of ETH is once again dipping below the $2,200 support, indicating a bearish trend.

  • Several bearish signals are evident, suggesting the possibility of further decline below $2,000.

  • On the 4-hour chart, Ethereum is seeking support around $2,140, with a potential retest of the $2,300-$2,400 level if this support holds.

  • Failure to hold the support level may lead to a more pronounced decline, with $2,000-$1,900 becoming a plausible target.

KEY LEVELS :

RESISTANCE LEVEL : $2,180-$2,230

SUPPORT LEVEL : $2,090-$2,040

Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.

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