Ethereum Price Maintains Movement Inside Ascending Triangle, Is Another Crash Coming?
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Crypto Analyst Trend Diva provides in-depth analysis of current Ethereum price action. She revealed that ETH is still entering Ascending triangle But it may suffer further downward pressure if it cannot stay above critical support levels.
Despite the recent crash, Ethereum prices are still rising within the triangle
exist TradingView PostsTrend Diva revealed that Ethereum prices are moving within a significantly rising triangle. The upper boundary acts as a long-term resistor, while the lower boundary provides dynamic support. The analysis is ETH’s recent decline Less than $2,000.
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Analysts noted that after a steady climb, Ethereum prices began to show weakness and were confirmed by head and shoulder patterns, which she claimed was a common signal that the trend might reverse. This weakness leads to a strong drop in ETH, reducing its price to Key support area around $2,000.
Trend Diva says the support area Ethereum Price Because it will meet the main trend line, this makes it a possible location where buyers can step in. She added that the area also showed a lot of activity, meaning traders have been interested in these levels before.
Analysts further pointed out that if Ethereum price is above This $2,000 supportit can rebound to the $2,800 level, which represents previous resistance. However, she revealed that a breakdown below the trend line shifts biased bearishness to $1,414.
For now, as long as ETH remains above $2,000, it can rebound to $2,800.
It is worth mentioning that Ethereum price briefly lost $2,000 in support levels after Sunday’s cryptocurrency market crash. So, with Trend Diva warns that it is also likely to fall to $1,414.
The drop to $1,250 is also on the card
In X posts, Crypto analyst Ali Martinez It means Ethereum prices appear to be leaving parallel channels. He added that if momentum continues, ETH could drop to $1,250. Eth Whales hopes to do everything possible to defend the $2,000 support zone and prevent Ethereum from falling to these new lows.
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Martinez reveals The largest whale In the past 48 hours, 330,000 ETH were purchased online. This massive whale accumulation could help prevent further downward pressure and could trigger a bullish reversal in Ethereum prices.
At the time of writing, Ethereum price is trading at about $2,065, down more than 5% in the past 24 hours. data From CoinMarketCap.
Featured images from Istock, charts from TradingView.com
