Ethereum Price Falls Below Psychological $2,000 Support — What Next?

After a show of resilience over the past few weeks, the Ethereum price finally gave way, falling below the $2,000 level for the first time since March 10th. The “King of Altcoins” succumbed to the downward pressure that spread across the global financial markets on Friday, March 27th, as the geopolitical tensions in the Middle East rage on. With rising oil prices due to the supply shock driven by the partial closure of the Strait of Hormuz, inflation expectations across various world economies are rising rapidly. Specifically, the fear of inflation seems to have triggered the ongoing chatter about a potential hike in interest rates by the United States Federal Reserve, leading to a drop in crypto prices. $111 Million Flushed Out Of The Market In ETH Long Liquidations On Friday, the Ethereum price fell to a two-week low just below the critical $2,000 level, as the entire cryptocurrency market continues to struggle against the latest wave of bearish pressure. As the price of