Ethereum Holds Above $2,600 as Key Resistance at $2,650 Approaches

Ethereum (ETH) surpassed $2,600 but struggled to maintain momentum due to market uncertainty. Despite this, it remains above critical support levels around $2,500, which is essential for sustaining its recent uptrend.

Market volatility has affected the broader crypto landscape.
Key resistance level identified at $2,650; if breached, could trigger a bullish breakout.
Analysts highlight that ETH's performance may lead to an altseason.
Recent consolidation between $2,500 and $2,600 is seen as a potential launchpad for further gains.

ETH currently trades at $2,604 after rebounding from a local low of $2,500. It is back above its 34-period EMA ($2,566), indicating short-term bullish momentum, though it faces resistance near $2,650. Volume remains stable, reflecting indecision among traders.

A break above $2,650 would confirm bullish continuation.
Failure to do so may result in a drop back towards $2,500 or lower support levels.

Overall, Ethereum remains in a consolidation phase with slight bullish sentiment as long as support holds.