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Ethereum experienced its most aggressive sales pressure in history last Monday, the price plunging 25% in one day. This dramatic drop has shook the entire market, leaving investors on board. However, Ethereum quickly rebounded, erasing the whole fall in a few hours, arousing optimism for recovery. Despite the rapid rebound, Ethereum is now faced with significant risks because it is slightly negotiated below a level of critical resistance, which raises concerns about its ability to maintain an upward dynamic.
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Top Crypto Daan’s analyst shared a technical analysis stressing that Ethereum respects the level of $ 2,800 again but failed to pass during his first test. This level of resistance has become a focal point for bulls, because recovery is essential for any sustained recovery. According to Daan, the $ 2,800 bar is crucial to determine the next decision of Ethereum, with the potential to revive the bullish momentum or lead to consolidation and additional declines.
With the market always struggling with uncertainty, all eyes are on Ethereum’s ability to recover this key level. The bulls must keep strong to prevent another wave of sales pressure, because the next few days will probably shape the short-term trajectory of the cryptocurrency and will determine if it can maintain its recovery.
Ethereum is preparing for a decisive movement below $ 2,800
Ethereum is negotiated below the $ 2,800 mark, and it seems to prepare for a decisive movement that will shape its short -term management. The feeling of investors around Ethereum remains lower, much increasingly frustrated by its inability to recover key levels. The hopes of a rally for the second largest cryptocurrency decrease while prices continue to disappoint.
Daan shared a technical analysis on X, highlighting the repeated defect of Ethereum to cross the resistance level of $ 2,800. “ETH respects the level of $ 2.8,000 as resistance again and failed to switch to the first test up there,” said Daan.
The current price action leaves Ethereum in a kind of “man without man”, which makes it essential to determine where a higher hollow could be created. This lower low could serve as a basis for a movement linked to the beach or a potential rupture.
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Daan suggests that from this point, Ethereum could form a range, which will help reassess its next movement. The next few days will be crucial for Ethereum, as traders and investors will monitor closely if the cryptocurrency can establish support at lower levels or a stages of an escape greater than $ 2,800. Do not recover this key level could prolong the downward trend and cause new decreases, while a successful escape could arouse renewed bullish momentum.
Price struggles below key resistance levels
Ethereum is currently negotiating at $ 2,640 after failing to exceed the $ 2,700 mark since Friday. The bulls seem to have lost momentum, the price facing a strong resistance between $ 2,700 and $ 2,800. This key supply area has crowned the upward movement of Ethereum, leaving the market in a state of uncertainty.
To find a bullish impulse, Ethereum must find high demand at current levels and surpass itself above this critical resistance area. The recovery of these levels as a support would be the first step towards the inversion of the downward trend that has entered the market since the end of January. Without such a decision, Ethereum remains vulnerable to additional risks.
If Ethereum does not hold above $ 2,600 in the coming days, the price is likely to undergo a deeper correction. A drop below this level could push ETH in lower demand zones, testing the support of about $ 2,500 or less. Traders and investors will closely observe the level of $ 2,600 as a critical threshold for the next decision of Ethereum.
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For the moment, the prospects remain lowering, and the next few days will be crucial to determine if Ethereum can gather the force to recover the key levels or if other declins are on the horizon.
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