Ethereum Remains Below $2,800 Amid Uncertainty and Selling Pressure
Ethereum has been trading between $2,650 and $2,750 for the past week, indicating uncertainty in its short-term direction. Key points include:
- Bulls are struggling to reclaim the $2,800 level, pivotal for future movements.
- Continuous selling pressure is limiting price action, with concerns about potential deeper corrections if ETH falls below $2,600.
- Some analysts believe ETH may be forming a long-term bullish structure, supported by a multi-year ascending triangle.
Current trading dynamics show:
- Short-term demand and supply levels remain tight.
- A push above $2,700 could signal bullish momentum; however, reclaiming $2,800 is critical for a confirmed recovery toward $3,000.
- Failure to maintain support at $2,700 could lead to further declines, possibly reaching around $2,500.
Overall, Ethereum's next few days are crucial for determining its trajectory—whether it can regain bullish momentum or face deeper corrections.
