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Ethereum closed between $ 2,650 and $ 2,750 for last week, creating short -term uncertainty. The price action remains undecided while the bulls have trouble recovering the level of $ 2,800, a key supply area which could determine the next decision of Ethereum. Although the long -term perspectives remain uncertain, Ethereum is negotiated at crucial levels of demand, faced with a continuous sale pressure which has maintained the action of disorderly prices.
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Investors try to stay calm in the middle of volatility, but fear spreads while Ethereum shows signs of weakness compared to bitcoin. Some analysts fear that if the ETH does not hold above $ 2,600, a deeper correction could follow. However, others remain optimistic, which suggests that ETH could form a long -term bullish structure.
The Crypto Jelle analyst shared a technical analysis on X revealing that the ETH is still negotiated within a multi -year ascending triangle, a formation which has historically pointed out a strong potential for breakthrough. If ETH can hold above the current levels and exceed the $ 2,800 mark, this could trigger a recovery to the key resistance of $ 3,000. For the moment, all eyes are on the next Ethereum movement, because the next few days could be decisive to shape its short -term trajectory.
Ethereum tests crucial liquidity levels
Ethereum is currently negotiated between the main levels of liquidity of demand and the short -term supply, with an action of prices trapped in a tight range. During last week, ETH closed between $ 2,650 and $ 2,750, creating uncertainty about its short -term management. Investors remain divided, some expecting a new correction and a prolonged consolidation phase, while others provide a recovery rally soon. The market awaits an escape or breakdown confirmation to determine the following trend.
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Ethereum tries to exceed the mark of $ 2,700 and to maintain it as a support, which would be the first sign of the bullish momentum. However, for a confirmed recovery phase, ETH must recover the levels of $ 2,800 and $ 3,000. These key resistance areas have acted as strong supply areas in the past and will probably dictate the next major movement of Ethereum. If the ETH fails to recover these levels, a deeper correction in a lower demand around the $ 2,500 bar could take place.
Jelle’s analysis on X reveals that the ETH is still negotiated in a massive ascending triangle, a multi -year bullish scheme. He noted that fakes have occurred both upwards and downwards, removing liquidity in both directions. With downward liquidity now taken, Jelle expects a return soon, suggesting that ETH may soon try to recover lost ground.
If Ethereum manages to exceed the $ 2,800 mark and maintain its momentum, an evolution towards the level of $ 3,000 would be the next target. However, if the sales pressure continues to dominate the market, the ETH could remain in a consolidation phase or even live more downwards. The next few days will be crucial to determine if the ETH can resume the bullish momentum or if a deeper correction is in advance.
Price action lacks short -term management
Ethereum is negotiated at $ 2,720 after days of lateral movement below the $ 2,800 mark, has trouble taking momentum for an escape. The bulls must intensify and push the price above this level as soon as possible to move the feeling and recover control of the action of the prices. The $ 2,800 mark acted as a solid supply area, and the break above would open the door for a movement towards the level of $ 3,000.
Leaving, defense of the level of $ 2,700 and even the level of $ 2,600 is crucial to maintain the bullish momentum. If ETH holds these levels for an extended period, this would signal high demand and support the possibility of a recovery gathering. A decision supported above $ 2,700 would encourage buyers to intervene, increasing the chances of releasing higher resistance areas.
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However, non-compliance with $ 2,700 could expose Ethereum to a new sales pressure. If the ETH falls below $ 2,600 level, a deeper correction in lower demand areas around $ 2,500 could follow. The next few days will be decisive to determine if Ethereum can establish a solid base for a bullish reversal or if Bears will continue to dominate prices.
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