Keys levels that must be monitored after obtaining support of $ 2,000

ETHEREUM recently decreased sharply, as it decreased to the critical support level of $ 2,000. In the broader expectations, the price is likely to merge within the range of $ 2,000 to 2.5 thousand dollars until the collapse indicates the next main step.

Technical analysis

by Shayan

Daily chart

ETHEREUM recently faced a sharp decrease, as it decreased about 30 % to reach the level of decisive support of $ 2,000. This decrease was followed by a 200 -day moving average, near 2.9 thousand dollars, and was exacerbated by the uncertainty in the market for the declaration of President Trump’s war. Ethereum is in a volatile state of sale, but $ 2K gave great support, consistent with the main ote levels in information and communication technology.

Currently, the range of $ 2,000 and 2.5 thousand dollars is expected to be unified as the market participants are waiting for the next main step. If buyers fail to defend $ 2K dollar in the coming weeks, there may be an additional decrease towards a mark of $ 1.5,000.

The graph for 4 hours

In the low time frame, ETH recently tried to decline in the bullish but faced strong pressure for sale in the re-tension area from 0.5-0.618, which led to another sharp contraction. When reconsidering $ 2K support, which corresponds to a critical sale area, an event bounces down due to the great purchase interest.

However, this recovery did not last long, and Ethereum again faced a wave of sales, which pushed it back towards the level of $ 2,000. This turbulent price procedure indicates increased trading activity and references in permanent markets, where approximately $ 980 billion is stopped within 24 hours.

Given these conditions, Ethereum is expected to remain volatile, as it is combined in a range of $ 2,000 to $ 2.5 thousand in the middle of the period, with more filters that are likely to form the main step in the market.

Feelings Analysis

by Shayan

Ethereum recently witnessed a sharp contraction on the market, which led to the largest liquidation chain in years. This wave of qualifiers has eliminated many dedicated situations, as shown in the scheme, which increases the volatility. Despite the severe decrease, ETHEREUM found strong support at the level of $ 2,000, which indicates a possible installation.

With the leverage decreased significantly, calming the permanent markets, creating an opportunity to reset the market. This shift can allow fresh supply and demand dynamics with cautious traders entering the main price levels.

If Ethereum maintains its location over $ 2,000 and begins to build momentum, the current monotheism may develop into a new upward wave. The main resistance levels to watch 2.5 thousand dollars and 3 thousand dollars. While the long term is expected to unify in the short term, the continuous upward trend depends on increasing demand for immediate market, which pays higher prices.