Ethereum Falls Below $ 570, Markets See Blood – How Low Can ETH Fall Now?

Ethereum is poised to move lower in the coming days as the cryptocurrency slid below the $ 570 mark for the first time in many days.

ETH is expected to experience further weakness in the near future as the coin with Bitcoin Revolution slips below important technical levels.

A crypto asset analyst recently shared the chart below, commenting that Ethereum is trading below the lows in the $ 570 area.

He believes the bear fall will stay intact in the near future as long as ETH stays below $ 570.

Ethereum falls below the key level of $ 570

Ethereum is poised to move lower in the coming days as the cryptocurrency slid below the $ 570 mark for the first time in many days.

The leading altcoin has been moving down since Bitcoin began falling Tuesday afternoon. BTC eventually fell below $ 18,750 and quickly plunged towards $ 18,250.

At the time of writing, BTC is trading at $ 18,060. While this is still above the $ 18,000 support level, it is below the major technical levels that have supported Bitcoin on its way up.

Ethereum is expected to experience weakness in the near future as it also moves below major technical levels. A crypto asset analyst shared the chart below and wrote that Ethereum is trading below the lows in the $ 570 area.

The analyst believes the bears will remain in control as long as the cryptocurrency stays below $ 570:

“$ ETH looks to me like a loss of our range low. Ethereum would have to rise above 570 soon for the bullish argument to remain intact. I’ll try to buy this dip around the levels I’ve marked. “

The trader writes that he intends to buy the cryptocurrency at the levels he has marked. According to the chart, there is some support in the $ 550 region, although there is no support up to $ 520 if that region breaks.

Given the recent launch of Ethereum 2.0, analysts remain generally optimistic about Ethereum in the long run.

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