- Ethereum has lost several support levels since the rejection from the all-time high of $1,940.
- Support at the 200 SMA is expected to prevent extended losses toward $1,500.
- Recovery above $1,700 may call out many buyers to rejoin the market in anticipation of gains eying $2,000.
Ethereum has been among the cryptocurrencies that are correcting from their all-time highs. The flagship smart contract token had closed in on $2,000 but traded a record high at $2,040. Following the trend reversal, Ethereum dropped sharply to $1,500 before making a shallow recovery.#####