Ethereum Could Set a “Lower Low” if It Breaks Beneath This Crucial Level

Analysts are now noting that ETH is in a precarious position, as it is currently trading just above a “make or break” level that could determine where it trends in the weeks ahead. ETH recently traded beneath this range’s lower boundary for an extended period of time, but the break back above it is what helped its price surge higher.

One analyst is now noting that he is expecting ETH to see further downside until it is able to recapture its previous support at $242. Another analyst explained that $238 is a crucial level that buyers need to defend, as a decline beneath it would set the stage for Ethereum to see lower lows.

Timeline of Ethereum