Ethereum Price Analysis: ETH breakdown to $1,500 seems imminent as on-chain metrics flip bearish

  • 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.

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27.02.2021 10:06