Ethereum breaks below $2.8K as charts hint at another 22% ETH price drop

Ethereum dipped below $2,800 as onchain data suggested a transition into a bear market. The technical setup pointed to a $2,100 ETH price.

Ether (ETH) could see another sharp drop after losing the support level at $2,800, with technical charts and onchain data suggesting the downtrend will continue.

Key takeaways:

Ether’s descending and symmetrical triangle setups converge at $2,100.

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