Ethereum Bulls Fighting to Remain in Control. This is the Most Important Support Zone to Keep a Close Eye On!
In our previous Ethereum analysis, we talked about the price breakout and the bullish bounce that was setting up to happen on the ETH Daily timeframe. We also warned our readers that the ETH bulls only had this window of opportunity to stop any further sell-off from happening in the coming days.
Well, since publishing that TA, we have seen the Ethereum bulls struggle against the mounting bearish pressure pouring into the market and they still held their ground.
In this ETH analysis, we will be breaking down the most important support zone for the Ethereum bulls and what could happen if they failed to defend this key zone.
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ETH $2,669 Key Support Zone
The most important price for the Ethereum bulls right now is the $2,669 key support zone on the Daily timeframe.
This price level is the last defense for the bulls and the only support still holding the Ethereum price up. A failure to defend this key support zone can only spell doom for buyers.
So for now, we are keeping a close eye on this $2,669 key support zone to see if it will continue to hold in the coming days.
Final Verdict!
The Ethereum price is at a critical level on the Daily timeframe. If the bulls want to retain control of this market trend or attempt to even push the Ethereum price higher, we need to see this $2,669 key support zone hold at all cost.
A failure to defend this key level could easily see the Ethereum price crashing more aggressively in the coming days.
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