In accordance with TheMarketPeriodical, Ethereum price has fallen below the critical $2,800 support level, raising concerns of a potential decline to $2,400. Analysts noted a weakening structure as multiple support zones break down across different timeframes. Traders are now closely monitoring price reactions around $2,600 and $2,400. A failure to reclaim $2,800 could open the path to the $2,500 zone, with further downside risks if the weekly channel breakdown continues.
Ethereum Price Breaks $2,800 Support, Analysts Warn of Drop to $2,400
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