Ethereum is currently testing a significant long-term support level near $2,000, with the ETH/USD pair closing the week at $2,012.20, marking a 3.71% decline. This price point represents the lower boundary of a demand zone that has historically attracted strong buyer interest. However, the current momentum appears weak, raising concerns about a potential breakdown.
Analysts warn that if Ethereum fails to hold the $2,000 support, it could face a further decline toward the $1,500 level. This area has previously served as a support during past market cycles and may attract buyers again if tested. Ethereum's recent performance shows continued weakness compared to Bitcoin, with lower highs and lower lows on the weekly chart, and increased selling pressure indicated by a volume spike. The market is closely watching whether the $2,000 level will hold or give way to further downside.
Ethereum Tests Critical $2K Support Amid Market Weakness
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