Ethereum traders warn of ‘nasty’ ETH price drop if $2K support breaks
Ethereum is flashing a warning of a familiar bearish pattern that preceded a 41% drop in January, raising risks of a fresh breakdown.
Market analysts say Ether’s (ETH) price may drop to $1,000 if a breakdown from a bearish chart pattern is confirmed.
Key takeaways:
Ether’s downtrend could accelerate if the price breaks below the lower trend line of a bear flag at $2,000 on the daily chart, where a similar breakdown in January led to a 41.5% ETH price drop.