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Will Ethereum Drop To $180?

As Bitcoin has stepped over the $8,000 threshold and started going up, the rest of the crypto market seems to be in the green as well. Ethereum is trading at $204, showing a rise by 2.43 percent, as per CoinMarketCap.

Still, traders on Twitter and on TradingView are expecting the second-largest cryptocurrency to follow a bearish scenario. The target they have set too far is located at the $180 mark.

Doubts about an upward breakout

Analyst Michael van de Poppe has shared a chart with a level for a bullish breakout of Ethereum. However, he tweets about his doubts regarding the upward movement.

The analyst rather expects ETH to nosedive below the $200 level – down to $170-$180.

Bearish support from other traders

Several other traders on TradingView have also shared bearish scenarios on the further ETH movement, naming the next stop for the ETH price to be $180. ETH is forming a bearish flag, as per them.

As a reminder, a month ago, on February 6, Ethereum broke through the $200 resistance and went higher. Now, it may reverse and return to the previous price level.

Crypto trader @George1Trader believes that either scenario is possible – ETH will either increase to reach $221 or it will drop into the $200 area.

Earlier, analysts predicted that ETH was likely to break out of the trading range and surge towards $220 and then towards $449.