Ethereum battles to reclaim the $2,000 level, but traders anticipate further downside now that a bearish head and shoulders pattern has been confirmed on the weekly timeframe.
shows that Ether still struggles to reclaim the $2,000 level as support and this zone has been a notable support and resistance since February 2021.
Insight into the major support level Ether needs to clear by the monthly close to regain a bullish outlook was touched on by market analyst and pseudonymous Twitter user ‘Rekt Capital’, whoETH/USD 3-day chart. Source: Twitter“ETH is climbing closer and closer towards the key ~$2,250 level. The main question is whether that Monthly level will flip into new resistance once reached.”
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