Will Ethereum Crash to $1,000?

As the calendar turns to 2024, Ethereum faces a critical period, marked by a notable -15% retreat from its recent highs, currently stabilizing around the $2,300 mark. This shift has ignited a wave of speculation among investors, who are keenly observing the interplay between evolving market dynamics, technological advancements within the Ethereum ecosystem, and broader economic indicators. This Ethereum price prediction aims to shed light on the potential future movements of this leading cryptocurrency.

Ethereum’s Most Crucial Support

Ethereum currently has two crucial support areas. The first one stands around a price of $2,200. If broken again on the weekly chart lower, the $2,000 psychological support would come into play. This will be a strong buying area for Ethereum, prompting prices to rise again.

Fig.1 ETH/USD 4-hours chart – TradingView
exchange comparison

Ethereum Price Prediction: Will Ethereum Crash Further?

As stated earlier, the $2,000 psychological price is a key support for Ethereum. Most traders would wait for this level to engage in a long trade on ETH. However, if this does not materialize, we might see weak price action from Ethereum, as prices would crash down towards the next support area of $1,400.

Fig.2 ETH/USD 4-hours chart – TradingView

Where to Buy Ethereum in 2024?

Ethereum can be purchased on various exchanges, with Bitget being a notable option. Bitget offers a user-friendly platform with robust security measures, making it an excellent choice for buying and trading Ethereum. Additionally, Bitget fees are one of the lowest in the market, so you wont have to worry about high fees if you trade regularly.



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