$2,300 Could Be a Strong Support Level for Ethereum
$2,300 Could Be a Strong Support Level for Ethereum, But Don't Overlook the Risk of a Bear Trap
A significant amount of ETH was purchased at around $2,300, making it unlikely that these holders will sell if the price dips further. This suggests that $2,300 could act as a key support level for Ethereum. However, past experience shows that ETH could potentially drop below $2,300 quickly before recovering, creating a "bear trap" and potentially triggering liquidations of leveraged positions.
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