Ethereum Maintains Support Above $2,500 as Golden Cross Approaches
Ethereum Faces Volatility Amid Geopolitical Tensions
Ethereum (ETH) is experiencing significant volatility due to rising tensions between Israel and Iran. Key points include:
- ETH remains above $2,500, indicating bullish sentiment.
- Resistance is evident at $2,675, which has been a barrier multiple times recently.
- A breakout above $2,675 could lead to a rally towards $3,000.
- Analyst Ted Pillows notes an approaching golden cross, historically linked to strong upward trends, with the last occurrence resulting in a 35% increase.
Current Price Structure and Resistance Levels
Ethereum's price action shows indecision as it remains within a range for over six weeks. Notable points include:
- $2,500 serves as critical support that bulls are defending.
- To regain upward momentum, ETH needs to break above the $2,750–$2,800 resistance area.
- A successful reclaim of this level may trigger substantial buying activity and shift to a bullish trend.
Consolidation and Technical Analysis
On the 4-hour chart, Ethereum is struggling with resistance while maintaining support above $2,500. Key observations include:
- Resistance persists at the $2,675–$2,700 zone, limiting bullish attempts.
- Recent pullbacks suggest a need to hold near-term support around $2,575.
- If ETH can surpass $2,675 decisively, a potential rally toward $2,850–$3,000 could occur.