The 20-day EMA line ($1,719) is an important support level to watch. If the price sharply rebounds from the 20-day EMA line, the bulls will attempt to push the ETH/USDT pair towards the breakout level of $2,111. The bears are expected to fiercely defend the $2,111 mark because if this level is conquered, the pair could soar to $2,550.
Conversely, if the price breaks down and closes below the 20-day EMA line, it indicates that the bears still control the market. At that point, ETH/USDT could drop to $1,537.
