{"id":3362,"date":"2025-02-28T19:13:08","date_gmt":"2025-02-28T19:13:08","guid":{"rendered":"https:\/\/coinsvalue.net\/blog\/ethereum-drop-coming-eth-risks-fall-to-2180-if-this-support-fails-analyst\/"},"modified":"2025-02-28T19:13:08","modified_gmt":"2025-02-28T19:13:08","slug":"ethereum-drop-coming-eth-risks-fall-to-2180-if-this-support-fails-analyst","status":"publish","type":"post","link":"https:\/\/coinsvalue.net\/blog\/ethereum-drop-coming-eth-risks-fall-to-2180-if-this-support-fails-analyst\/","title":{"rendered":"Ethereum Drop Coming? ETH Risks Fall To $2,180 If This Support Fails \u2013 Analyst"},"content":{"rendered":"

Amid the market retrace, Ethereum (ETH) has lost its key $2,600 support zone and fallen below the next crucial level. As the second-largest cryptocurrency by market capitalization attempts to hold its current range, some analysts predict a 6% drop could be coming.<\/p>\n

Ethereum Risks Fall To $2,180<\/h2>\n

Following the $1.5 billion hack of crypto exchange Bybit, the crypto industry experienced a market correction that sent most cryptocurrencies below their key support levels. Bitcoin\u2019s price fell below the $90,000 mark for the first time since November.<\/p>\n

Meanwhile, Solana, one of the leading Altcoins of the cycle, dropped 30% in five days, hitting a five-month low. Nonetheless, Ethereum\u2019s price held relatively well compared to most cryptocurrencies despite accounting for $1.2 billion of the assets stolen in the hack.<\/p>\n

The \u201cKing of Altcoins\u201d initially dropped 10%, staying around its pre-Bybit hack levels over the weekend, but failed to sustain the $2,600 support after the market crash resumed on Monday.<\/p>\n

Crypto analyst Ali Martinez had previously warned that this level was key for cryptocurrency\u2019s bullish trend continuation, and failing to hold this support zone would send the price to the $2,4000 mark.<\/p>\n

After the drop, the analyst stated that the $2,425 level was Ethereum\u2019s next most critical support zone, as 10.33 million wallets accumulated 63.43 million ETH. However, the cryptocurrency failed to hold this level on Wednesday, dropping to $2,300 in the past 24 hours.<\/p>\n

Martinez warned<\/a> that Ethereum needs to hold the $2,345 support level now, where 2 million investors bought 58.88 million ETH. If it falls below this level, the millions of investors will be in the red numbers.<\/p>\n

Analyst Carl Runefelt also cautioned about ETH\u2019s current levels, suggesting that Ethereum risked dropping another 6%. The analyst advised investors to monitor the bearish flag forming in Ethereum\u2019s hourly chart for the past day, as it could send ETH\u2019s price near the $2,000 support line.<\/p>\n

If the cryptocurrency fails to hold the $2,320-$2,330 level, Ethereum\u2019s price targets a breakdown to $2,180.<\/p>\n

\"Ethereum\"<\/p>\n

Short-Term Rally Or Sideways Move Coming?<\/h2>\n

Crypto analyst Ted Pillows highlighted<\/a> ETH\u2019s bullish divergence in the 3-hour chart, suggesting that \u201ca short-term rally towards $2,600-$2,700 looks possible.\u201d However, he noted that the potential rebound could be a \u201cdead at bounce.\u201d<\/p>\n

Meanwhile, Altcoin Sherpa indicated<\/a> that the cryptocurrency could move sideways for the next few months, pointing to ETH\u2019s performance after losing the $2,900 support in August 2024.<\/p>\n

Ethereum moved within the $2,100-$2,800 price range from August to November 2024, with the second-largest crypto\u2019s current price action starting to resemble last summer\u2019s performance.<\/p>\n

Another market watcher also suggested that the King of Altcoins needs an extended re-accumulation period to attempt to reclaim the higher levels, as seen during the FTX collapse, 2023\u2019s capitulation, and Summer 2024\u2019s capitulation. Based on this, ETH could move within its current range for the next two to three months.<\/p>\n

Lastly, analyst Titan of Crypto pointed<\/a> out a Wyckoff Check accumulation pattern in ETH\u2019s weekly chart. He stated that Ethereum appears to retest its key level after a breakout to confirm the trend continuation. Per the post, if the $2,140 level holds, there\u2019s a \u201cpotential spring and rally continuation.\u201d<\/p>\n

As of this writing, Ethereum trades at $2,324, a 15% drop in the weekly timeframe.<\/p>\n

\"ethereum,<\/p>\n","protected":false},"excerpt":{"rendered":"

Amid the market retrace, Ethereum (ETH) has lost its key $2,600 support zone and fallen below the next crucial level. As the second-largest cryptocurrency by market capitalization attempts to hold its current range, some analysts predict a 6% drop could be coming. Ethereum Risks Fall To $2,180 Following the $1.5 billion hack of crypto exchange…<\/p>\n","protected":false},"author":1,"featured_media":3363,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[1846,1871,42,245,1698,281,33,64,66,228,89,68],"class_list":["post-3362","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-market-news","tag-bybit-hack","tag-bybit-security-breach","tag-crypto-analyst","tag-crypto-investor","tag-crypto-market-correcion","tag-crypto-trader","tag-cryptocurrency-market-news","tag-eth","tag-ethereum","tag-ethereum-analysis","tag-ethereum-price","tag-ethusdt"],"_links":{"self":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/3362","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/comments?post=3362"}],"version-history":[{"count":0,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/posts\/3362\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media\/3363"}],"wp:attachment":[{"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/media?parent=3362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/categories?post=3362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinsvalue.net\/blog\/wp-json\/wp\/v2\/tags?post=3362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}