Skip to content Skip to footer

Ethereum could target $2400 despite falling below $2000 again – CoinJournal

Choose your language:
Unable to load latest pricing data, please try again later.
Ethereum (ETH) has fallen below $2000 once again. The coin had managed to post some gains after bottoming at $1700 a few weeks ago. However, that upward momentum has slowed, and we may see some decline. But this is not necessarily something to worry about. Here are some key points:
The recent decline below $2000 doesn’t appear to be strong
ETH will likely rebound almost instantly in a few days
The coin will regain $2000 and trigger a buying frenzy that pushes ETH to $2400
Data Source: TradingView 
After falling to $1700 just two weeks ago, ETH has managed to hold out. There were worries that the coin would touch $1000 in what could have been its worst downtrend this year. However, ETH quickly recaptured $2000 but has since lost it again. In fact, over the last 7 days, the coin has struggled to maintain the price above the $2k mark. 
However, we expect this time round things to be different. Although ETH is slightly below $2k, the coin will likely regain this important threshold in the days ahead. This will send a crucial bullish signal that will likely trigger demand for ETH. The coin will shoot up to $2400 before it slows. 
But there are some important risks. For example, if the current fall below $2000 turns out to be more serious than expected, this thesis becomes invalidated. If anything, failure to hold the $1800 support could push ETH toward $1500 in the short term.
The long-term value of Ethereum has never been in doubt. But short-term volatility will be here for the rest of the year. 
The best way to profit right now is to buy once the price consolidates above $2000. But if you are not sure about the possible risks, you can watch the coin and see if it breaks $1800. Once this happens, $1500 will be a great entry point.
Keep updated with our round the clock and in-depth cryptocurrency news.
Unsub anytime
No SPAM ever!
After signing up, you may also receive occasional special offers from us via email. We will never sell or distribute your data to any third parties. View our privacy policy here.
Please be aware that some of the links on this site will direct you to the websites of third parties, some of whom are marketing affiliates and/or business partners of this site and/or its owners, operators and affiliates. We may receive financial compensation from these third parties. Notwithstanding any such relationship, no responsibility is accepted for the conduct of any third party nor the content or functionality of their websites or applications. A hyperlink to or positive reference to or review of a broker or exchange should not be understood to be an endorsement of that broker or exchange’s products or services.
Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. contracts for difference (“CFDs”) is speculative and carries a high level of risk. Each investment is unique and involves unique risks.
CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.
Cryptocurrencies can fluctuate widely in prices and are, therefore, not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Past performance does not guarantee future results. Any trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Your capital is at risk.
When trading in stocks your capital is at risk.
Past performance is not an indication of future results. Trading history presented is less than 5 years old unless otherwise stated and may not suffice as a basis for investment decisions. Prices may go down as well as up, prices can fluctuate widely, you may be exposed to currency exchange rate fluctuations and you may lose all of or more than the amount you invest. Investing is not suitable for everyone; ensure that you have fully understood the risks and legalities involved. If you are unsure, seek independent financial, legal, tax and/or accounting advice. This website does not provide investment, financial, legal, tax or accounting advice. Some links are affiliate links. For more information please read our full risk warning and disclaimer.


Share 0
Tweet 0
Pin it 0
Share 0

Leave a comment