Ethereum Plummets Below $2,200, Crypto Market in Turmoil

Ethereum's price has plummeted below $2,200, raising concerns about whether it can hold above the $2,000 support level. The crypto market is in a state of turmoil, with its total market capitalization dropping to $2.67 trillion, a significant decline from over $3 trillion just days ago. In the past 24 hours alone, the market has lost over 7% in value, continuing a brutal sell-off that has left many investors worried.

Ethereum, the second-largest cryptocurrency by market capitalization, has taken a major hit, currently trading at $2,150. This is dangerously close to the crucial $2,000 support level. ETH has lost 9% in the past 24 hours and 23% in the past week, making it one of the worst-performing major cryptocurrencies.

If Ethereum breaks below $2,000, the next key support areas to watch are $1,800, a psychological level that previously acted as strong support, $1,500, a major demand zone from previous cycles, and $1,200, a deeper crash level that could trigger even more panic selling.

Ethereum's future largely depends on whether Bitcoin can hold its own key support at $80,000. If BTC falls further, ETH could follow, dragging the rest of the altcoin market down with it. The question on everyone's mind is whether Ethereum will recover, or if this is just the beginning of a deeper crypto market collapse.