Ethereum

bullish

Bitcoin

<ul class="wp-block-list">
 <li>Ethereum may drop to $2085, testing critical support levels in the near term.</li>  
 <li>A Triple Bottom fractal signals potential recovery after the expected dip.</li>  
 <li>A significant rally may follow the downturn so traders should be patient.</li> 
</ul>  
<p>According to Crypto Bullet’s latest analysis, Ethereum (ETH) is heading toward a critical point. The analyst expects ETH to drop to $2085 within the next ten days before taking off.</p>  
<p>He further highlights that key support levels from August 5 and September 6 could soon be tested. Once these lows are swept, the Triple Bottom fractal might complete, signaling a potential recovery.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  https://twitter.com/CryptoBullet1/status/1844400457982341368
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</figure>  
<h2 class="wp-block-heading" id="h-triple-bottom-fractal-in-play">Triple Bottom Fractal in Play</h2>  
<p>Crypto Bullet identifies a clear <a href="https://www.investopedia.com/terms/t/triplebottom.asp" rel="noopener noreferrer nofollow">Triple Bottom fractal</a> forming on the 1-day Ethereum chart. This pattern signals that the price of ETH will dip to test previous lows. The key support levels resemble steps, with $2085 as the possible floor. According to him, Ethereum’s possible dip to $2085 could complete this technical pattern.</p>  
<p>The analyst draws a parallel with Bitcoin (BTC), which saw a <a href="https://cryptonewsland.com/bitcoin-sets-heavily-bullish-responses-from-altcoins/" rel="noopener noreferrer nofollow">similar dip before bouncing back</a>. He also believes that once the market shakes out weak hands, the stage will be set for a rebound.</p>  
<p>A final downturn might pave the way for Ethereum to surge. Crypto markets often move in waves, and this could be the last wave down before the trend shifts.</p>  
<h2 class="wp-block-heading" id="h-preparing-for-the-breakout">Preparing for the Breakout</h2>  
<p>According to <a href="https://twitter.com/silverbulletbtc?lang=en" rel="noopener noreferrer nofollow">Crypto Bullet</a>, this upcoming dip shouldn't worry investors because it could be a healthy reset before a breakout. Ethereum, like many assets, needs to flush out excesses before moving higher.</p>  
<p>Investors should remain patient as the market nears this critical point. The potential for a strong recovery remains high once this pattern completes. While Crypto Bullet's analysis paints a bullish outlook for ETH, caution should be exercised considering the unpredictable nature of the crypto market.</p>  
<p>For now, the price of ETH might drop to $2085, according to Crypto Bullet. He also believes that testing those lows could be the final step before a significant rally. That said, traders should watch these key levels in the next few days to make informed decisions.</p>   
<p>The post <a href="https://cryptonewsland.com/ethereums-key-support-levels-to-watch/" rel="noopener noreferrer nofollow">Ethereum’s Key Levels: Triple Bottom in Play with $2085 Target</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Ethereum’s Key Levels: Triple Bottom in Play with $2085 Target

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