Ethereum Price Faces Bearish Indicators, Potential Correction Below $2,000

Ethereum (ETH) faces the prospect of a correction as it struggles below the $2,200 support, indicating potential further decline below $2,000. The recent downtrend initiated from the $2,330 resistance zone, with ETH currently trading below $2,220 and the 100-hourly Simple Moving Average. The formation of a bearish trend line with resistance near $2,210 suggests a possible acceleration in the downward movement, particularly if there’s a break below the $2,135 support. Failure to overcome the $2,210 resistance could extend the downtrend, with initial support at $2,135 and a critical level near $2,080. A breach below $2,080 might trigger a significant decline, potentially pushing Ethereum below the $2,000 mark, prompting traders to closely monitor key support levels for further insights into market direction. (Source: newsbtc.com)