• Ethereum broke key support level 2050.00
• Likely to fall to support level 1800.00
Ethereum cryptocurrency recently broke the key support level 2050.00 (low of the previous minor correction 4 from the start of July) interesting with the 50% Fibonacci retracement of the privies medium-term upward impulse wave (1). The breakout of the support level 2050.00 should accelerate the active medium -term ABC correction (2) – which started from the start of July.
Given the worsening sentiment as seen across cryptocurrency markets today, Ethereum cryptocurrency can be expected to fall further toward the next support level 1800.00 (low of the previous correction 2 from the end of June – which formed the daily Bullish Engulfing).