8th March 2022 | ZebPay Trade-Desk

ETH is down by 14% week on week, and has been fairly range bound over the  past 48 hours, trading between $2,500-$2,600. ETH dominance is at 17.6%, and market capitalization is currently at $304bn.  The coin has closed in the red, across multiple trading sessions, and faces a strong support at $2,400, as bears seem to be in charge. 

At the time of writing, ETH is trading at $2,542.

Ethereum after making the recent high of $3,047.5 witnessed a correction and the prices fell almost by 20% making the low of $2,447by forming ‘Lower Top Lower Bottom’ pattern. The asset has taken multiple support at $2,400 and this time too it did exactly the same and has bounced from the key support level. If the prices hold and sustains above $2,400 then we can expect the bulls to resume the up move whereas a break below this level will lead to further downfall and the prices can slide to the next support which is at  $2,150.

Support 2Support 1AssetResistance 1Resistance 2$2,150$2,400ETH$2,750$3,000

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