Where is ETH Support?

Ethereum is still very much in a downtrend but there’s hope for bulls according to the weekly chart as ETH holds above the 50-period moving average. Ethereum might range between EMA 20 and 50 for some time here. If Ethereum retraces back from this level, it can rocket to make a new all-time high above $5000 eventually. Conversely, if this support level is not held, the price of Ethereum can plummet as low as $2000, yet again.