Altseason At Risk? Expert Believes Ethereum Must Hold $2,600 To Sustain Momentum
Ethereum’s trade level is crucial, it faces enormous sales pressure and strives to regain $2,800. Recent price action has attracted the attention of investors who have tried to remain calm amid growing volatility but are worried that Ethereum will decline further.
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The broader cryptocurrency market sentiment remains divided, with Ethereum underperforming and not building a strong bullish momentum. Some analysts believe that ETH is at a level of composition or breakthrough, while others believe that deeper corrections can still be made.
Top crypto analyst Ali Martinez shared a technical analysis on X that suggests that Alteason could be cancelled if Ethereum fails to hold the $2,600 level. Martinez stressed that this price is an important support for ETH and the altcoin market as a whole. A breakdown below this level could lead to further declines, pushing ETH toward lower demand zones and triggering a wider sell-off across Altcoins.
Ethereum struggles To restore strength, the next few days are crucial to identifying their short-term direction. The Bulls must step in and return to key levels to avoid further drawbacks, while the bear is still in control as long as the ETH remains below $2,800.
Ethereum price test key demand
Ethereum is trying to push it higher than $2,700 and hold it above it to confirm the beginning of the recovery phase. However, the main resistance level to be recovered is between $2,800 and $3,000 that has served as a major supply area in the past. The Bulls are working to gain momentum and Ethereum is unable to break through these levels, leading to growing concerns about further downside risks.
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Market analysts believe Ethereum’s next move will be crucial, as the market is expected to confirm in either direction soon. Some analysts believe that Ethereum’s weakness relative to Bitcoin suggests that altcoins are losing momentum, while others believe that ETH still has a chance to rally if the key levels are retracted.
Martinez’s analysis Note that if Ethereum fails to hold the $2,600 level, the ALT season will be cancelled. This price is a long-term demand zone and the lost price will invalidate any bullish momentum in the entire Altcoin market. Martinez explained that Ethereum has historically occupied Altcoin rally, and its major support level that it failed to hold could trigger a wider sell-off from Altcoins.
The Bulls must defend the $2,600 level at all costs to confirm a sustainable rally, as it is below it could trigger a wider market correction. If ETH manages to stay above current levels and retract $2,800-$3,000, it may mark the beginning of a bullish recovery. The next few days will be crucial to Ethereum’s short-term direction.
Price action details: key levels to watch
After multiple attempts to recover $2,700, Ethereum traded at $2,680. The Bulls tried to raise prices, but sales pressure was still high, which made it difficult for ETH to gain momentum. The next key resistance level is $2,800, and a breakout above this level will indicate a potential bullish reversal. If ETH takes back $2,800 and merges above it, it may subsequently increase to $3,000 waste, causing new optimism.
However, not holding the $2,600 level would be a bearish signal, which is an imminent sign. Losing this critical level of demand could trigger further sales pressure, resulting in a potential drop to lower support zones, about $2,400-2,500. Investors are closely monitoring these levels, as Ethereum’s price action will determine whether the recovery rally can begin or whether a deeper correction is being made.
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Currently, ETH still has scope, and a breakthrough in either direction can define trends in the coming weeks. The Bulls need to actively step in to restore control and avoid long bearish phases. The next few trading courses are crucial to identifying short-term price action for Ethereum.
Featured images from DALL-E, charts from TradingView
