Ethereum (ETHUSD) has decisively broken below the $2,432 support level, settling under it and indicating a period of negative pressure in the upcoming sessions. The cryptocurrency is now expected to test the next support level at $2,328.16. Should this level also be breached, it could lead Ethereum towards $2,200 in the near term.
As a result, further declines are anticipated in the coming sessions. However, if Ethereum manages to reclaim the $2,432 level, followed by a break above $2,496.22, this could halt the current downward trend and set the stage for a potential recovery.
Today’s expected trading range is between $2,290 for support and $2,520 for resistance.
Trend Forecast: Bearish
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