Ether Leeum is the reason why the price of $ 2K ETH should be held for two years.

Ether Lee’s indigenous token token, ether (ETH), has the lowest level of $ 2,070 since January 1, 2024.

With ETH Price testing the lowest level of two years, 0xlouist, an encryption investment manager, says Ether’s social feelings are “the lowest in the last 12 months.”

Ether Leeum’s weekly proximity is close to the lowest point of two years.

Ether prices have fallen 24.50% over the last seven days and the worst weekly sales since 2022. Less than $ 2,300 per share is the lowest at the lowest level of two years since November 2023.

As described in the chart, the top altcoin is set to be close to the exponential average (EMA) for 200 weeks. For 200 weeks, EMA indicators have closely tracked the bottom range of Ether Leeum.

Since 2020, ETH/USD has only closed 14.55% at the EMA level for 200 weeks for 39 weeks of 268.

Related: Why is the encryption market apart today?

Thus, based on the historical trend, Etherrium can recover the EMA level in a few weeks.

But the double top pattern threatens the bull. The 7 -day chart also shows that the double top pattern is formed over last year. The close proximity of less than $ 2,100 will verify the neckline, and all modifications of less than $ 2,000 are $ 1,500, which increases the 28%chance of the next support.

Jason Pizzino, an encryption investor, also states that it can be a “more problem” if Etherrium is less than $ 2,000- $ 2,1000. Therefore, in order to invalidate this double top pattern on the chart, the ETH must be maintained at more than $ 2,000.

The distribution price based on Ether Leeum cost is $ 1.9K

In order to prevent further reduction, Ether must maintain more than $ 2,000, but GlassNode data has a cost -based distribution price at $ 1,890.

The cost -based distribution (CBD) price of the asset is not a single fixed number, but a variety of prices that are reflected when ETH moves last. The $ 1,890 CBD price indicates that ether can be resumed if the price weakens persist.

Related: The brutal 20% Etherrium price is not over, but is there a silver lining for ETH?

Morin, a encryption merchant, also emphasized that ETH’s demand area is about $ 2,100 to $ 1,900. The merchant predicted that when the weak pressure subsided, Altcoin’s blow would be included in this range.

On the contrary, Leon Waidmann, the research director of Onchainhq, suggested that the Eth Exchange balance will continue to fall with the price. The researchers suggest that investors will potentially maintain their confidence in ETH and will accumulate in major demand areas as prices are revised.

This article does not include investment advice or recommendation. All investment and trading measures include risks, and the reader must do his own research when making a decision.