Ethereum Attempts to Reclaim $2,800 Amidst Selling Pressure

Ethereum is currently struggling to surpass the $2,800 resistance level while maintaining support above $2,600. Key points include:

Bears are applying selling pressure, affecting ETH's ability to reclaim $2,800.
Strong demand exists, with bulls holding above $2,600 support.
Technical analysis by Jelle indicates a potential bullish structure, with ETH bouncing off key support and holding above the 200-week EMA.
A breakout above $2,800 could lead to momentum towards $3,000.
Failure to maintain above $2,600 may result in deeper retracement.
Ethereum is trading at $2,805, aiming for higher resistance levels.
A break above $2,950 would likely trigger an aggressive recovery.
Current consolidation phase keeps investors on edge about future price movements.

Investors should monitor ETH's ability to hold above critical levels to gauge its short-term trajectory.