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Cryptopotato

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Will ETH Stabilize After a 20% Weekly Crash? Ethereum Price Analysis

  • Ethereum has experienced a 20% weekly crash, breaking below significant support levels.
  • On the daily chart, the asset dropped rapidly after breaking below the 200-day moving average.
  • The $2,100 support level has been holding the price, with a potential temporary recovery if it breaks above $2,400.
  • The open interest metric suggests that the recent price drop is not solely due to futures liquidation, and warns of potential further decline.

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