Feb 10, 2025
4 0
Ethereum Remains Below $2,800 Amid Ongoing Selling Pressure
Ethereum is currently trading below the $2,800 mark, experiencing increased negative sentiment and persistent selling pressure. Key points include:
- Underperformance compared to Bitcoin and other major assets.
- Analyst Jelle indicates Ethereum remains within a multi-year ascending triangle, suggesting potential for significant price movement.
- The $4,000 level is identified as a critical supply zone, with previous tests indicating the possibility of a breakout on the fourth attempt.
- Current trading price stands at $2,650, struggling to reclaim $2,800 since last week.
- Bulls need to maintain support at $2,600 to reverse the downtrend and aim for higher targets above $3,000.
- Failure to hold $2,600 may lead to further declines.
