$ETH leak Ethereum Price and Zone US$1,970🎯🎯🎯
Key level is at US$1,972 (zone US$1,970). This level has been a support area since early March.
If the ETH price closes below US$1,970 on the 4-hour chart, it means the strongest support (Fib level 0.618) is broken and the ETH price is getting closer to the lower boundary of the downtrend channel.
Below that level, the zones US$1,910 and US$1,830 become the next areas. If it breaks below US$1,830, it indicates a channel breakdown and a potential decline of about 10% from that level heading towards the zone US$1,650. However, such a decline may take time to occur.
📈Ethereum Price Analysis
On the upside, ETH must return and hold above the zone US$2,050 to reduce immediate pressure. After that, the upper boundary of the channel near US$2,110 becomes the first real strength test.
Currently, US$1,970 separates Ethereum's first green month in the last seven months from a potential breakdown that could push the price towards US$1,650.