The cryptocurrency market is experiencing a significant decline, raising fresh concerns among investors. The total market cap fell from over $3 trillion to $2.67 trillion in just a few days.
Current State of the Crypto Market
The crypto market is in freefall, with total market capitalization dropping to $2.67 trillion, reflecting a more than 7% decrease in the last 24 hours alone. This ongoing sell-off is causing significant concerns among many investors.
Ethereum and Its Support at $2000
Ethereum has taken a major hit, currently trading at $2,150 and dangerously close to the crucial $2,000 support level. ETH has lost 9% in the past 24 hours and 23% over the week, making it one of the worst-performing major cryptocurrencies.
Ethereum Forecast: What’s Next?
If Ethereum breaks below $2,000, the next key support areas to watch are: $1,800 – a psychological level that previously acted as strong support; $1,500 – a major demand zone from previous cycles; $1,200 – a deeper crash level that could trigger even more panic selling.
Ethereum's future largely depends on Bitcoin's ability to hold its key support levels. If Bitcoin continues to fall, Ethereum could follow, dragging the entire altcoin market down.
