Ethereum traders say to watch these ETH price levels next
ether (ETH) analysts have released key ETH price levels to watch over the next few weeks, focusing on the $2,000 psychological level.
Main Receptors:
A break below the 200-day simple moving average at $2,220 could confirm further downside for ETH. ETH faces strong resistance at $2,400, a level the bulls should return to.
The price of Ether is stuck between two key levels
Data from TradingView shows that the ETH/USD pair is trading below $2,300, down 5% over the past two days and erasing all gains made over the weekend.
This means that the price has remained close between the 100-day EMA at $2,350 and the 100-day Simple Moving Average (SMA) at $2,220, as shown in the chart below.
This suggests that Ether may consolidate within these trend lines for a few more days before taking a decisive action.
Telegram Trading Wealth Technical Crypto Analyst he said. After missing the support trend at $2,300, he added, “We can probably expect Ethereum to go lower, and it may hit the lower support level in the next few days.”
“A good amount of solid damage will prove it.”
ETH/USD Daily Chart. Source: Cointelegraph/Trading view
The analyst was referring to two immediate support zones: around $2,200, where the 50-day and 100-day SMAs converge, and a psychological level at $2,000.
“ETH drops below $2,300”. he said. Co-analyst Ted Truss posted on X on Tuesday, adding:
“The next critical support zone is $2,200, which could be a short-term recovery level.”
A key buy zone below is around $1,800-$1,750, which corresponds to the multi-year low reached on February 6.
Recently in X, trader Daan Crypto Trades he said. The key levels to watch were $2,100 as support and resistance at $2,800, which is where the ETH price has “honored” over the past few years.
ETH/USD Daily Chart. Source: X/Daan Crypto Trades
According to Cointelegraph reportedClosing every day below Moving averages Around $2,200 will focus on the next line of resistance at $2,000.
Ethereum price needs to return to $2,400 to continue recovery.
Like Cointelegraph as well reportedEther's bullish hold hinges on turning the resistance into support at $2,400, which is the current price.
CryptoQuant analyst CW8900 said: “This is a very important psychological factor.” he said. In a recent X post, adding:
“Crossing that line indicates that the whales are moving into a profitable position.”
ETH Verified Price. Source: CryptoQuant
As whales return to a profitable position, “their buying power will continue to strengthen,” the analyst added.
Related: Ethereum's EEZ can pull other blockchains into its orbit.
Meanwhile, the ether fluid map It explains A break above $2,400 will trigger over $1.94 billion on all exchanges in the short term.
ETH exchange liquidity map. Source: CoinGlass
This means that a large bearish bet risks liquidation on an uptrend, paving the way for an upside shock if the rally continues.
