Ethereum Price Maintains Movement Inside Ascending Triangle, Is Another Crash Coming?

This article provides an analysis of the current Ethereum price action, highlighting that ETH is still moving inside an ascending triangle pattern. The article mentions that Ethereum recently experienced a decline below $2,000 but is now testing a crucial support level around $2,000.

The analysis suggests that if Ethereum can hold above this support level, it could bounce back towards $2,800, a previous resistance level. However, a breakdown below the trendline could shift the bias bearish towards $1,414.

Another analyst mentioned in the article suggests that Ethereum could potentially drop to as low as $1,250 if momentum sustains. However, the article also notes that ETH whales have been accumulating significant amounts of ETH in the last 48 hours, which could help prevent further downside pressure and potentially lead to a bullish reversal.

At the time of writing, the Ethereum price is trading at around $2,065, down over 5% in the last 24 hours according to CoinMarketCap data.

Overall, the article provides insights into the current price action of Ethereum and the potential scenarios for its price movement in the near future.