Large demand zone below $2K ETH price gives signal on where Ether may go

💡 DMK Insight

ETH’s current price of $2,020.39 is critical as it approaches key support levels identified in past fractal patterns from 2021 and projected for 2024. Traders should pay close attention to historical buy demand zones, which could act as a magnet for price action. If ETH holds above these levels, it may signal a potential reversal, but a break below could trigger further selling pressure. The broader market context, including macroeconomic indicators and sentiment around Ethereum’s upgrades, also plays a role in shaping price dynamics. Look for volume spikes around these support zones to gauge trader interest. If ETH can reclaim the $2,100 mark, it might attract more bullish momentum, while failure to hold above $2,000 could lead to a retest of lower levels. Keep an eye on related assets like BTC, as their movements often influence altcoin behavior.