Ethereum Holds Key Support at $2,500 Amidst Market Uncertainty
Ethereum has surpassed key resistance but struggles to maintain momentum near the $3,000 mark. Current trading is around $2,749, with support established above the $2,700–$2,740 zone. Global economic uncertainties are influencing market sentiment.
Key Points
- ETH has rallied over 100% since April lows.
- Historical patterns show successful retests of $2,500 leading to rallies towards $4,000 in previous cycles.
- Currently consolidating near $2,750–$2,800; traders are monitoring for signs of strength or weakness.
- Volume is decreasing, indicating uncertainty among traders about the next move.
- A hold above the support zone could trigger a bullish breakout, while a drop below $2,700 may lead to further declines.
