Ethereum Attempts to Hold Key Support Level Above $2,750
Ethereum Price Update
- Ethereum surpassed $2,800 but experienced volatility, retracting into previous resistance zones.
- Current trading price is about $2,753, above key support levels.
- Analyst M-log1 indicates ETH must bounce and break the ascending channel to regain upward momentum.
- Global economic factors contribute to market volatility, affecting investor sentiment.
- If Ethereum reclaims $2,800–$2,830 as support, a potential rally towards $3,000 may follow.
Technical Analysis
- ETH is testing critical moving averages:
- 50-day at $2,325
- 100-day at $2,647
- 200-day at $2,768
- A close above the 200 SMA could confirm bullish sentiment.
- If ETH drops below $2,700, a retest of the $2,600–$2,650 support zone may occur.
