6 hour ago
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Ethereum Rebound Stalls Below Crucial $3,550 Resistance Level
Ethereum's recent price movements suggest a corrective phase rather than a decisive breakout. Currently, ETH is attempting to stabilize but remains within a sideways corrective structure that has persisted since November 2021.
- ETH needs to break the $3,550 resistance to confirm a stronger breakout.
- The price action remains capped within a trend channel, signaling no clear bullish shift yet.
- There's potential for further upside, but it may be part of a corrective wave rather than a sustained rally.
Ethereum mirrors Bitcoin's range-bound behavior, locked between $2,700 and $3,400. Recent support at $2,600–$2,700 sparked a short-term bounce, easing downside pressure.
- For bullish momentum to continue, the $2,600–$2,700 support must hold.
- A breakdown below this support could lead to further downside.
