Warning: Ethereum Sell-Off Just Got Worst! Watch This Key Level

2:12 pm, Sat, 22 January 22

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Ethereum Sell-Off Just Got Worst! Watch This Key Level on the 4-hour timeframe
Ethereum Sell-Off Just Got Worst! Watch This Key Level on the 4-hour timeframe

The Ethereum sell-off just got worst! The Altcoin just broke through a critical support level on the 4-hour timeframe. This bearish breakdown is bad for Ethereum and simply means there is a very high probability for us to see more sell-off in the coming days.

The critical support we are talking about is the $2,720 horizontal level on the 4-hour timeframe. We talked about this key level in our previous analysis Ethereum Trading At Critical Support. Can This Stop The Sell-Off? warning our readers of the negative consequences of the ETH price breaking through this 4-hour level support

Ethereum Trading At Critical Support. Can This Stop The Sell-Off? Watch this key support on the 4-hour timeframe
Ethereum price prediction from a previous analysis Ethereum Trading At Critical Support. Can This Stop The Sell-Off?

In this Ethereum analysis, we will be talking about the new key levels we are watching and what we believe might happen to the Ethereum price chart in the coming days.

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New Key Resistance For Ethereum!

Ethereum Sell-Off Just Got Worst! Watch This Key Level on the 4-hour timeframe
Ethereum Sell-Off Just Got Worst! Watch This Key Level on the 4-hour timeframe

The Ethereum sell-off is looking like it does not want to slow down yet! And the key level to watch is the $2,720 (previous support now key resistance) price level on the 4-hour timeframe.

The importance of this price level cannot be overstated because we might see renewed selling pressure come into the Ethereum market from this region in the 4-hour timeframe, creating a major barrier for the Ethereum bulls.

Ethereum Sell-Off Just Got Worst! Watch This Key Level on the 4-hour timeframe
Ethereum Sell-Off Just Got Worst! Watch This Key Level on the 4-hour timeframe

This makes this level very important to the ETH bull because as far as the Ethereum price continues to trade below this $2,720 key level on the 4-hour timeframe, Ethereum might just keep on selling off.

How Long Can We Expect This Sell-Off To Last?

We don’t know how long this sell-off might last, but the key level to watch is the $2,720 price resistance on the 4-hour timeframe.

For Ethereum to become bullish again, the ETH bulls must push Ethereum back above this $2,720 key level on the 4-hour timeframe.

What the bulls must do to get back control of the Ethereum market.

Until a bullish breakout like this happens, Ethereum has a very high probability of just continuing to trend lower all the way down to the next major support at $1,708.

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