Ethereum (ETH) has been on a wild ride, folks! After a rapid decline on February 2, ETH’s price took a nosedive, reaching as low as $2,118. This sudden drop came just after ETH’s price started accelerating with a bullish momentum and broke above $3,400 on January 31st. 😲
But don’t worry, ETH bounced back with a 26% spike from the low of $2,100 and is currently trading at around $2,605. 🎉 This recovery highlights ETH’s ability to rebound and sustain key support levels, which will be crucial to decide its next movement.
According to a crypto analyst on X, ETH must hold above $2,700 to keep the bullish structure intact and have a chance of reaching $7,000! 🤑 But if ETH fails to sustain this level, it may lead to further declines, putting more selling pressure and loosening the market sentiments. 😰
The broader crypto market remains highly volatile, and it is expected to be throughout the week. Several analysts and traders are suggesting not to trade crypto assets with high leverage at the time while waiting for the market to cool down until next week. 🤓
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2025-02-03 15:16