The Ethereum bears have been in control of the market trend for weeks now. And that bearish control does not seem to be weakening anytime soon.
In this Ethereum analysis, we will be talking about the major support zone the ETH price might pushing down to in the coming days, what this coming Ethereum price sell-off might mean for the ETH bulls, and how much lower can the ETH price get.
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ETH About to Crash down towards the $1,500 Region or Lower!
The key support we are currently tracking on the ETH Daily timeframe is the $1000 price region that has held since 2022. This 5-years support zone has been a major buying region for the Ethereum bulls and in the coming weeks, we might see the ETH price retest it.
If this Ethereum prediction plays out exactly, this means we might still see massive selling pressure for Ethereum as we continue to push lower to this $1,000 key region.
So for now, we are still very bearish on Ethereum and believe the ETH sell-off may only intensify in the coming days. ETH current price is at $2,000.
Final Verdict!
The Ethereum bulls are no where to be found as the ETH price continues to collapse in these market conditions. The next major level we are keeping a close eye on is the $1,000 multi-year support zone that has now held for over 5-years.
If this $1,000 support zone continues to hold, there is a very high probability that we might see the ETH price crash down towards this region before we see buyers begin to step back into the market.
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