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Market Expert Who Predicted Ethereum Price Crash At $2,800 Reveals What’s Coming Next
- A crypto analyst accurately predicted the Ethereum price decline from $2,800 and suggests fresh rallies are on the horizon.
- The market expert notes ETH's significant upside potential while encouraging traders to consider dip-buy opportunities.
- Crypto Patel sees potential for an Ethereum price rally following a recent bearish breakdown.
- The recent dump saw Ethereum rejected from a resistance trendline and losing the $2,500 support level.
- Ethereum's breach of channel support signified a win for bears, invalidating its mid-term bullish structure.
- At the time of analysis, Ethereum's price was at $2,244, near the 0.5 Fibonacci Retracement level, presenting a potential bounce area.
- If the price fails to hold, the next key support is seen at the 0.618 level near $2,116.
- Crypto Patel suggests that the recent dump has created a significant accumulation zone with the potential for high upside.
- He projects Ethereum's next move could lead to new all-time highs at $8,000-$10,000 or fresh lows if lower supports fail.
- Crypto Patel identifies $1,800-$2,200 as a buy-dip zone with possible reversals or accumulation opportunities.
- Key levels for reversal are marked at $1,947 and $1,751, aligning with a historically bullish Order Block in the $1,782-$1,840 range.
- The analyst's long-term target range for Ethereum is between $8,000-$10,000, anticipating a slow but sure climb.
- Traders are advised to consider buying ETH at the Fair Value Gap while prices are low to position for potential gains.
- Despite short-term bearish momentum, a gradual climb towards the projected bullish range is expected.
- Accumulation during the current corrective phase is emphasized for Ethereum's future price trajectory.
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