22nd June 2021 | ZebPay Trade-Desk
Ethereum (ETH), the second-largest asset by market capitalization of $230bn, has seen a dip of almost 20% since the start of the week, falling below the $2,000 mark, for the first time since the market rest last month. However, with the EIP-1559 upgrade likely to happen in June end, the asset looks promising at these levels.
ETH was consolidating and trading in a broad range from $2,200 to $2,800. The asset witnessed a sharp fall post giving a breakout on the downside and made the low of $1,876. Technically, ETH is still looking weak, however, the asset is trying to take support at these levels. If it sustains the support then we can expect some recovery, else we may see a further downfall, and the prices may slide to the next support level of $1,755.
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