Ethereum Stuck Below $2,800 Resistance – Bulls Need A Higher Low To Recover
Ethereum experienced the most radical sales pressure in history last Monday, with prices falling 25% in one day. This dramatic decline shocked the entire market and put investors on the edge. However, Ethereum rebounded rapidly, eliminating the entire decline in a few hours, creating optimism about recovery. Despite the rapid rebound, Ethereum is now facing huge risks as it trades slightly below key resistance levels, raising concerns about its ability to maintain upward momentum.
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Top crypto analyst Daan shared a technical analysis that stressed that Ethereum once again respected the $2,800 level but failed to pass its first test. This level of resistance has become the focus of the bulls, as retraction is crucial to any sustained recovery. According to Daan, the $2,800 mark is crucial to determining Ethereum’s next move, potentially reigniting the bullish momentum or leading to further consolidation and decline.
As the market is still struggling with uncertainty, everyone’s eyes are on the capabilities of Ethereum Retrieve this critical level. The Bull must be strong to prevent sales pressures, as the coming days may affect the short-term trajectory of the cryptocurrency and determine whether it can sustain its recovery.
Ethereum prepares for decisive moves of $2,800
Ethereum is trading below $2,800 and appears to be preparing for a decisive move that determines its short-term direction. Ethereum investor sentiment remains bearish, and many are frustrated by the inability to recover key levels. As price action continues to disappoint, the second-largest cryptocurrency rally hopes are declining.
Daan shared Technical analysis on Xstressing that Ethereum’s repeated failure to break through the $2,800 resistance level. “ETH once again respects the 2.8k resistance and fails to do it in the first test there,” Dann said.
Current price action makes Ethereum live on a kind of “unmanned land” which is crucial to identifying places that may produce higher lows. This higher low can serve as the basis for distance movement or potential breakthroughs.
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Daan suggests that starting from this point, Ethereum may form a scope that will help reevaluate its next move. As traders and investors closely monitor whether cryptocurrencies can establish support or installment breakthroughs of more than $2,800 at lower levels, it is crucial to Ethereum. Failure to recover from this critical level could prolong the bearish trend and lead to further declines, while a successful breakthrough could trigger a new bullish momentum.
Price struggle is below key resistance levels
Ethereum is currently trading at $2,640 since Friday. The Bulls seem to have lost momentum, with strong resistance facing prices between $2,700 and $2,800. This critical supply zone has restricted Ethereum’s upward movement, putting the market in a state of uncertainty.
To restore bullish momentum, Ethereum must find strong demand at current levels and exceed this critical resistance zone. Restoring these levels as support will be the first step to reverse the trend that has swept the market since late January. Without such a move, Ethereum is still vulnerable to further downside risks.
If Ethereum cannot hold above $2,600 in the next few days, the price may go deeper and higher. A drop below this level could push ETH toward lower demand zones, with test support about $2,500 or less. Traders and investors will closely monitor the $2,600 level, a key threshold for Ethereum’s next move.
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For now, the outlook remains bearish, and the coming days are crucial to determine whether Ethereum can gather strength to restore key levels or whether further declines are coming.
Featured images from DALL-E, charts from TradingView
