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The Ethereum -Price Action Increases red flags among analysts, with technical indicators that indicate a potential crash to the level of $ 2,000. Despite experienced A Significant rise Recently after Bitcoin’s price increase, the worries continue to grow that a deeper correction can unfold.
Ethereum Price Crash for $ 2,000 on your hands
Based on a new one report By Master Ananda, a trade view Crypto analyst, the Ethereum market blinks warning signals as its price struggles under the critical resistance zone. At the time of the press, Ethereum acts at around $ 2,605 after he has been rejected from a local highlight of around $ 2,788.
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The 4-hour graph of Ethereum presented by Master Ananda shows that the top Altcoin has probably completed a short-term summit, and now there is a corrective move in the game. The analysis refers to one Threatening price crashWith technical predictions that a retracement for the level of $ 2,000 or lower suggest before the next bullish impulse.
The analyst who Beerarish Continuation thesis Seems like a set-up with a very likelihood, with Ethereum being expected to visit lower Fibonacci retracement levels again. In particular, the graph reveals a subtle bearish divergence that forms a little higher as the price in May, but with a decreasing momentum. This in turn created a rising resistance line, while volume and price action could not confirm new highlights.
Noticeable has been the price of Ethereum since then under the 0.230 Fibonacci level broken, which indicates the possible Start of a wider correction phase. The following likely support areas are at $ 2,280 (0.382 FIB), $ 2,085 (0.5 FIB) and the most significant, the price point of $ 1,900 at the 0.618 FIB racement level.
The marked green zones in the graph of Master Ananda represent potential support and purchase areas, which indicate the $ 1,900 to $ 1,735 (0.618-0.786 FIB) reach as the most likely zone for a higher low to shape. The previous major low took place on April 7 and it is expected that this correction will end above that level. Until that time, a short -term correction remains the most likely scenario, and traders are warned to get caution, since the graph further emphasizes a possible more thunderous crash to $ 1,385.
ETH -Handels strategy: buy the dip and go long
While he parts his Bearish thesis for EthereumMaster Ananda also gave a clear strategy for investors and traders. He advised long -term holders to wait patiently for the projected decrease and to assess the support reaction before he is looking for clear reversal signals.
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Buying support zones such as $ 1,900 or even as low as could offer $ 1,736 Optimal access points For long -term positions. Although Bears are still trying to make the market short, Master Ananda assures that the disadvantage is limited.
The analyst emphasizes the importance of planning and avoiding impulsive trade by creating ideal access and exit points with respect for the prevailing market trend. Of Ethereum’s Bullish Outlook still intactThis projected price crash can become a chance for many traders instead of a threat.
Featured image of Getty Images, Chart van TradingView.com