During the previous week, the price of Ethereum has stabilized between $2,000 and $1,700. Because of this, the ETH price remained largely unchanged compared to the last seven days and lost 2.5% of its value.
While Bitcoin has fallen below the $29K range, Ether has lost its hold on the $1800 handle and is approaching the $1700 support level. In addition, ETH’s price behavior indicates a significant chance of adverse repercussions that might push the cryptocurrency’s value below $1700.
If investors are unable to defend the crucial support at $1,700, ETH is more likely to drop to the next major level at $1,450, which is also its January 2018 all-time high.
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When a triangle is established, the price of the cryptocurrency will, on average, break away from the cluster once it has traversed approximately 70 percent of the triangle.
Ethereum Bottom Still A Positive Sign
Analysts believe Ether’s bottom may be between $1700 and $1800, noting that it’s a posi ..
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