#EthereumDropsBelow$2400 🚨 ETH BELOW $2,400! IS A $2,200 DROP NEXT. OR IS THIS A BUY-THE-DIP OPPORTUNITY?
Ethereum bulls are facing a moment. 📉
ETH dropped quickly to about $2,340. Then bounced back above $2,400.. This rebound doesn’t mean the trend has changed.
Here’s what’s pushing ETH lower:
🔴 Inflation is heating up again: U.S. Consumer price index and producer price index data have sparked fears of monetary policy. That’s news for risk assets like crypto.
🔴 ETFs are losing money: On October 14 U.S. Spot Ethereum ETFs lost $129.5 million. BlackRock’s ETHA alone saw outflows of about $109.8 million.
🔴 Leverage's being wiped out: Over $860 million in long positions were liquidated in just one day. That’s causing selling and adding downward pressure.
📊 Key levels for ETH:
- $2,318 to $2,350: This is a support zone. If ETH holds here it could stabilize.
- $2,200: That’s a downside target. If support breaks we could see a drop.
- $2,498 To $2,550: That’s where resistance lies. Bulls need to break above this to regain control.
💡 My view: If ETH holds above support and ETF outflows slow down a recovery might be possible.. If it breaks below key levels more selling could follow. Stay alert. Watch the price. The flow of funds, before making a move.
👇 What’s your call? Buy ETH around $2,350. Wait for $2,200?
#ETH #crypto #altcoins #Khan62 $SOL $XRP $BNB
Ethereum bulls are facing a moment. 📉
ETH dropped quickly to about $2,340. Then bounced back above $2,400.. This rebound doesn’t mean the trend has changed.
Here’s what’s pushing ETH lower:
🔴 Inflation is heating up again: U.S. Consumer price index and producer price index data have sparked fears of monetary policy. That’s news for risk assets like crypto.
🔴 ETFs are losing money: On October 14 U.S. Spot Ethereum ETFs lost $129.5 million. BlackRock’s ETHA alone saw outflows of about $109.8 million.
🔴 Leverage's being wiped out: Over $860 million in long positions were liquidated in just one day. That’s causing selling and adding downward pressure.
📊 Key levels for ETH:
- $2,318 to $2,350: This is a support zone. If ETH holds here it could stabilize.
- $2,200: That’s a downside target. If support breaks we could see a drop.
- $2,498 To $2,550: That’s where resistance lies. Bulls need to break above this to regain control.
💡 My view: If ETH holds above support and ETF outflows slow down a recovery might be possible.. If it breaks below key levels more selling could follow. Stay alert. Watch the price. The flow of funds, before making a move.
👇 What’s your call? Buy ETH around $2,350. Wait for $2,200?
#ETH #crypto #altcoins #Khan62 $SOL $XRP $BNB