Ether’s price may drop to $1,000 if $2K support breaks
Ethereum’s price is at risk of a significant drop if it breaks below the $2,000 support level.
A bear flag pattern is forming, which could lead to a 49% price drop to $1,075.
The pattern is a bearish continuation setup that forms after the price consolidates inside an up-sloping channel following a sharp price drop.
If the price breaks below $2,000, it could lead to over $1.70 billion in long liquidations and a potential sell-off to $1,800 or a new low.