Saturday, March 2

Ethereum Price Risks Drop to $2,000 on ‘Bearing Flag’ Setup By Cointelegraph

Ethereum price at risk of falling to $2,000 on a ‘bear flag’ setup

The native token of , Ether (ETH), will extend its 30% drop this year to the lowest price level since July 2021, if a technical indicator plays out.

Ether chart paints a bearish pattern ETH price fell to its six-month low of $2,159 on Jan 24, 2022, then rebounded sharply to $2,724 days later. However, this created a “bearish flag” chart pattern that suggests the price could drop to $2,000 or a 17% drop from current levels.

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A bearish flag appears when the price consolidates higher after strong downward momentum, but eventually moves lower after breaking out of the bullish range. In doing so, the price tends to fall by as much as the length of the previous decline, which is called a “flag pole.”

Read the full article on Cointelegraph

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