{"id":482889,"date":"2022-02-04T17:00:09","date_gmt":"2022-02-04T17:00:09","guid":{"rendered":"https:\/\/ktsl888.com\/?p=482889"},"modified":"2024-06-11T14:11:13","modified_gmt":"2024-06-11T14:11:13","slug":"what-could-send-ethereum-crashing-to-2000-according-to-crypto-analyst","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/what-could-send-ethereum-crashing-to-2000-according-to-crypto-analyst\/","title":{"rendered":"What Could Send Ethereum Crashing To $2,000, According To Crypto Analyst"},"content":{"rendered":"

Ethereum has been hitting some minor milestones since the market crash. Obviously following behind market leader bitcoin, it has posted small recoveries that brought it out from its last month low. But while this has been encouraging for investors, there is still a long way to go, meaning that the digital asset could go either way at this point. Bears are trying hard to drag it down to a new low and crypto analyst Justin Bennett maps out what could give the bears exactly what they want.<\/p>\n

Ethereum To $2,000?<\/h2>\n

Currently, the price of Ethereum is trading close to $3,000. This does not mean that the digital asset has been able to test this coveted level. Rather, it is showing a bit of support around the $2,800 price point. Nevertheless, this remains a volatile market and the asset could easily fluctuate down as it would upwards. Only a strong resistance point stands between ETH and touching $2,000.<\/p>\n

Related Reading |\u00a0Double Threat: Bitcoin And Ethereum, Start Of Bear Market Or Bullish Consolidation?<\/a><\/strong><\/em><\/p>\n

Crypto analyst Justin Bennett explains in his latest newsletter<\/a> what is an important support for the digital asset. He acknowledges the pullback that the asset has experienced following alongside bitcoin, expressing that it sees some key support below its present price. However, without being able to defend the $2,500 level going forward, it would be hard to carve out a higher low.<\/p>\n

\"Ethereum<\/p>\n

ETH begins recovery trend | Source: ETHUSD on TradingView.com<\/a><\/pre>\n
A close below $2,500 would see ethereum moving towards its next major support level, which is $2,200. If this support does not hold, bears would successfully take control of the digital asset, dragging it down to $2,000.<\/p>\n
However, it is not all bad news. Bulls still exert major control over ETH\u2019s price and if they can hold it above $2,500, \u201cthen the next big test is $2,800-$2,900, followed by $3,100,\u201d Bennett says.<\/p>\n
Good News For Bitcoin?<\/h2>\n
The crypto analyst also touched on bitcoin, an asset whose movements ethereum closely follows most times. It\u2019s no secret that the success of bitcoin translates into the success of other cryptocurrencies in the market and that is no different with ethereum.<\/p>\n
Related Reading |\u00a0What A Decline Under $35,511 Would Mean For The Price Of bitcoin<\/a><\/strong><\/em><\/p>\n
As for bitcoin, given the current momentum in the market, it can be hard to tell what is coming next. But Bennett does not expect the digital asset to be seeing the $30,000 level at any time soon. Given that the cryptocurrency is still trading above the $35,000 point, \u201cI think it makes little sense to assume $30,000,\u201d Bennett says.<\/p>\n
This does not mean that a breakout is coming soon as the analyst explains that bitcoin would have to close above the $42,000 area for a confirmation of a bullish breakout, which would, in turn, expose it to the $45,000-$46,000 level.<\/p>\n
Bitcoin is trading below $38,000 at the time of this writing.<\/p>\n
Featured image from Crypto Hustle, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Ethereum has been hitting some minor milestones since the market crash. Obviously following behind market leader bitcoin, it has posted small recoveries that brought it out from its last month low. But while this has been encouraging for investors, there is still a long way to go, meaning that the digital asset could go either way at this point. Bears are trying hard to drag it down to a new low and crypto analyst Justin Bennett maps out what could give the bears exactly what they want. Ethereum To $2,000? Currently, the price of Ethereum is trading close to $3,000. This does not mean that the digital asset has been able to test this coveted level. Rather, it is showing a bit of support around the $2,800 price point. Nevertheless, this remains a volatile market and the asset could easily fluctuate down as it would upwards. Only a strong resistance point stands between ETH and touching $2,000. Related Reading |\u00a0Double Threat: Bitcoin And Ethereum, Start Of Bear Market Or Bullish Consolidation? Crypto analyst Justin Bennett explains in his latest newsletter what is an important support for the digital asset. He acknowledges the pullback that the asset has experienced following alongside bitcoin, expressing that it sees some key support below its present price. However, without being able to defend the $2,500 level going forward, it would be hard to carve out a higher low. ETH begins recovery trend | Source: ETHUSD on TradingView.com A close below $2,500 would see ethereum moving towards its next major support level, which is $2,200. If this support does not hold, bears would successfully take control of the digital asset, dragging it down to $2,000. However, it is not all bad news. Bulls still exert major control over ETH\u2019s price and if they can hold it above $2,500, \u201cthen the next big test is $2,800-$2,900, followed by $3,100,\u201d Bennett says. Good News For Bitcoin? The crypto analyst also touched on bitcoin, an asset whose movements ethereum closely follows most times. It\u2019s no secret that the success of bitcoin translates into the success of other cryptocurrencies in the market and that is no different with ethereum. Related Reading |\u00a0What A Decline Under $35,511 Would Mean For The Price Of bitcoin As for bitcoin, given the current momentum in the market, it can be hard to tell what is coming next. But Bennett does not expect the digital asset to be seeing the $30,000 level at any time soon. Given that the cryptocurrency is still trading above the $35,000 point, \u201cI think it makes little sense to assume $30,000,\u201d Bennett says. This does not mean that a breakout is coming soon as the analyst explains that bitcoin would have to close above the $42,000 area for a confirmation of a bullish breakout, which would, in turn, expose it to the $45,000-$46,000 level. Bitcoin is trading below $38,000 at the time of this writing. Featured image from Crypto Hustle, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":482892,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,13625],"tags":[166,428,1119,1122,1144,26263,8323,16163,1946,8686,85359],"class_list":["post-482889","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-ethereum","tag-analysis-2","tag-bitcoin","tag-btc","tag-btc-price","tag-btcusd","tag-crypto-analyst","tag-eth","tag-eth-price","tag-ethereum","tag-ethusd","tag-justin-bennett"],"acf":[],"yoast_head":"\nWhat Could Send Ethereum Crashing To $2,000, According To Crypto Analyst<\/title>\n<meta name=\"description\" content=\"Ethereum has been hitting some minor milestones since the market crash. 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/ktsl888.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"What Could Send Ethereum Crashing To $2,000, According To Crypto Analyst","url":"http:\/\/ktsl888.com\/news\/what-could-send-ethereum-crashing-to-2000-according-to-crypto-analyst\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/what-could-send-ethereum-crashing-to-2000-according-to-crypto-analyst\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/02\/Ethereum-bear.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/02\/Ethereum-bear.png?fit=800%2C470"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["analysis","bitcoin","btc","btc price","btcusd","crypto analyst","eth","eth price","ethereum","ethusd","justin bennett"],"dateCreated":"2022-02-04T17:00:09Z","datePublished":"2022-02-04T17:00:09Z","dateModified":"2024-06-11T14:11:13Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"What Could Send Ethereum Crashing To $2,000, According To Crypto Analyst\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/what-could-send-ethereum-crashing-to-2000-according-to-crypto-analyst\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/what-could-send-ethereum-crashing-to-2000-according-to-crypto-analyst\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/02\\\/Ethereum-bear.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/02\\\/Ethereum-bear.png?fit=800%2C470\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"analysis\",\"bitcoin\",\"btc\",\"btc price\",\"btcusd\",\"crypto analyst\",\"eth\",\"eth price\",\"ethereum\",\"ethusd\",\"justin bennett\"],\"dateCreated\":\"2022-02-04T17:00:09Z\",\"datePublished\":\"2022-02-04T17:00:09Z\",\"dateModified\":\"2024-06-11T14:11:13Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/02\/Ethereum-bear.png?fit=800%2C470","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/482889"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=482889"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/482889\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/482892"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=482889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=482889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=482889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}