EthereumShort
ETH Heading Down to 2000 is That Possible
ETH Heading Down to 2000? Is That Possible?
Ethereum is moving down significantly after Bitcoin began a larger bearish movement, as I explained in my previous analysis. ETH struggled to break through the $2730 resistance zone and showed hesitation. If we look at the historical price structure, ETH appears to be repeating a similar pattern, increasing the likelihood of a similar move.
After any minor corrections, ETH may continue its downtrend, and this time, it wouldn’t be surprising if it drops to $2000. A very strong support zone exists between $2120 and $2190. If the price breaks through this zone, reaching $2000 could be an easy target.
✅Recent Economic Data Impact
Yesterday, the US reported ADP September employment at +143K versus the expected +120K. This raises hopes that the NFP data on Friday may exceed expectations. If that happens, ETH could easily reach the $2000 target
You may find more details in the chart📉
PS Support with like and comments if you find this analysis useful for your Trading day ❤️
Ethereum is moving down significantly after Bitcoin began a larger bearish movement, as I explained in my previous analysis. ETH struggled to break through the $2730 resistance zone and showed hesitation. If we look at the historical price structure, ETH appears to be repeating a similar pattern, increasing the likelihood of a similar move.
After any minor corrections, ETH may continue its downtrend, and this time, it wouldn’t be surprising if it drops to $2000. A very strong support zone exists between $2120 and $2190. If the price breaks through this zone, reaching $2000 could be an easy target.
✅Recent Economic Data Impact
Yesterday, the US reported ADP September employment at +143K versus the expected +120K. This raises hopes that the NFP data on Friday may exceed expectations. If that happens, ETH could easily reach the $2000 target
You may find more details in the chart📉
PS Support with like and comments if you find this analysis useful for your Trading day ❤️
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