Ethereum (ETH) Price Presents Buying Opportunity as Network Growth Spikes: Will ETH Reclaim $3000 Soon?

Ethereum (ETH) price has shed 14% in the past five days and trades today at $2,346. This downtrend has knocked ETH down to a key support zone that could trigger a reversal.

Ethereum (ETH) price is down 14% over the last five days and currently trades at $2,346. This downtrend has brought ETH to a key support zone, presenting a potential buying opportunity.

A daily candlestick close above the demand zone, denoting absorption of selling pressure, could trigger a reversal. Investors may consider opening swing long positions or accumulating ETH at these levels.

However, BTC price needs to stabilize around $61K-$62K for ETH and other top altcoins to rally further. A failure to hold support levels could lead to a drop to $2,000, as predicted by Crypto Capo due to BTC's anticipated 10-20% correction. In this scenario, ETH's price target would be $2,000.

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