Cryptocurrency analysts predict Ethereum’s collapse to $ 1160

Cryptocurrency industry analysts note: Ethereum ETH $2,111.44 Bridged Ether (StarkGate) -1.58% Market capitalization $37.56 million VOL. 24 hours $0.7 billion is currently holding strong support in the $ 2,200 zone, but analysts warn that if the price falls below this level, the next significant «shield» for the market may be located as far as $ 1,160. According to NewsBTC’s analysis, more than 67 million ETH were bought by almost 6.3 million addresses in the $ 2,218-$ 2,396 range, so most investors may start actively buying the token on a drop to this level.

However, if $ 2,200 does not hold, the lower price zones are much thinner in terms of demand, so Ethereum could lose its support and quickly drop to $ 1,160, where 21.6 million coins are already concentrated at more than 35 million addresses. At the time of this review, the ETH price is holding at $ 2,475, maintaining a positive trend, but the risks of a potential collapse are still relevant.

Analysts advise to keep a close eye on the $ 2,200 support, as this is where the closest Ethereum market share may be decided.