#MarketPullback $ETH Market Update
Current Price: $1,801.01
24h Change: -1.69%
Ethereum (ETH) is currently trading just below the key $1,800 level, reflecting a nearly 3% decline over the past 24 hours. This breakdown beneath a critical psychological threshold is raising concerns about increased selling pressure and potential moves toward lower support levels.
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Market Snapshot
$ETH failure to hold above $1,800 signals vulnerability, with traders now watching the $1,700 zone closely — a significant level both technically and psychologically. A bounce from this area could trigger a recovery, but continued weakness may open the door for deeper downside.
Key Support Zones
• S1 (Immediate Support): $1,720.06
• Psychological Support: $1,700
• Buying Zone: $1,700 – $1,720.06
This range is critical. If buyers step in and momentum builds, a reversal toward higher levels is possible. Traders may consider long setups here, but only with confirmation and risk controls in place.
Potential Upside Targets:
• $1,800 (retest)
• $1,850
• $1,962.23
• $2,108.80
Suggested Stop-Loss: Below $1,700
Caution: A firm break under $1,700 could accelerate losses, with the next major support at $1,534.87.
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Deeper Support Levels:
• S2: $1,534.87
• S3 (Strong Buy Zone): $1,380
If $ETH trends lower into the $1,534–$1,380 range, this could present an attractive opportunity for long-term accumulation — though proper risk management is crucial.
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Today’s Key Levels to Watch:
• Resistance: $1,850
• Critical Support: $1,700
• Bearish Scenario: Below $1,700 could trigger a drop toward $1,534.87 and possibly $1,380
• Bullish Scenario: Holding above $1,700 keeps potential for a rebound toward $1,800 and beyond
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Market Outlook:
ETH remains under short-term pressure, but the $1,700 zone offers a potential entry point for bullish traders. However, a break below this level could bring more downside. Stay cautious and informed.
Disclaimer: This is not financial advice. Always do your own research before making trading decisions.
Written by MR _UMAIR for the Binance Square Write to Earn program.
