Ethereum may fall below $ 2,000

The price of the leading altcoin ETH $1,586.36 Bridged Ether (StarkGate) -1.20% Market capitalization $0.14 billion VOL. 24 hours $0.64 billion failed to strengthen for further growth above the resistance level of $ 2,300. ETH peaked at $ 2,330 and began a new decline, as did bitcoin BTC $84,676.22 Bitcoin -0.04% Market capitalization $1.68 trillion VOL. 24 hours $1.11 billion .

According to the analytical tracker CoinMArketCap, at the time of writing, the second largest cryptocurrency by market capitalization is trading at $ 2,175. The total number of coins circulating on the market is $ 261.3 billion, and raiders have made daily trading deals worth $ 8.1 billion. Ethereum’s market dominance has dropped to 16.9%.

Cryptocurrency experts note that if there is a new growth, the ETH price may face resistance around $ 2,200. The next level of support is near $ 2,210 and the trend line. The main resistance is now at $ 2,250. A clear move above the $ 2,250 level could send the price of the main altcoin to the $ 2,330 level.

The next resistance is at $ 2,400. Any further growth could trigger ETH’s rise to the $ 2,550 level, above which Ethereum will be able to rise and test the $ 2,750 zone.

If Ethereum fails to overcome resistance at $ 2,210, it will continue to move downward. The initial support on the downside is near the $ 2,135 level.

The first key support could be the $ 2,080 area. A breakdown below that could trigger an even bigger drop. In this case, the leading altcoin may even fall below the $ 2,000 support level.

Technical indicators

• The hourly MACD for ETH/USD is gaining momentum in the bearish zone.
• The hourly RSI for ETH/USD is now below 50.
• The main support level is $ 2,135
• The main resistance level is $ 2,210