Ethereum cryptocurrency can be expected to fall further toward the next support level 2875.00, which stopped the previous waves (B), B and ii.

– Ethereum under bearish pressure

– Likely to fall to support level 2875.00

Ethereum cryptocurrency under the bearish pressure after the price broke the support zone located between the key support level 3400.00 (which has been reversing the price from the start of June) and the 50% Fibonacci correction of the previous upward wave (B) from last the start of August. The breakout of this support zone accelerated the active minor impulse wave 3 of the higher order impulse wave (C) from the end of May.

Given the strength of the active downward impulse wave 3, Ethereum cryptocurrency can be expected to fall further toward the next support level 2875.00, which stopped the previous waves (B), B and ii.

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