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I noticed that Ethereum is really struggling right now. The price is around $2.32k today, but the downward trend remains. The real question is: will the support at $2k hold or will we see an Ethereum fall down to $1.8k?
Looking at the charts, ETH is stuck below the 100 and 200-day moving averages. The $2.4k zone acts as a strong resistance, and every time we try to break it, it gets rejected hard. The recent rebound hasn't been very convincing, honestly. On the 4-hour chart, it's even clearer: the bullish channel has collapsed, and we're now testing the pivot at $2k.
What worries me the most? The leverage building up in the system. If this support at $2k breaks, we could see a violent Ethereum fall with cascading liquidations. There's not much volume on the upside either. For things to change, we need a return above at least $2.2k. Otherwise, $1.8k is probably the next step.