🔍 Technical Analysis for #ETH
The $2400 level is considered a very important local support, and it makes sense that it will be tested in the upcoming period.
It wouldn't be wise to consider long positions before clearing a significant portion of the open interest.
If this level is broken and then reclaimed, a local price range between $2400 and $2700 is likely to form.
However, if this level is clearly lost, the next strong horizontal support will be at $2100.
But beware of a slow descent toward this area, as it is a serious sign of weakness.
In contrast, a rapid and sudden drop to $2100 may represent a suitable opportunity to catch a short-term bottom.
Nevertheless, remember that any current drop may seem significant, but it is still within a 20% increase compared to last week — meaning it is not an unusual move in terms of range.
Currently, ETH remains stuck within the broader range between $2100 and $2800, and this fluctuation is expected to continue for some time.
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