Ethereum experienced one of the most aggressive sales in its history on Monday and dropped 25% on a single day in the middle of market -wide panic. The rapid decline sent shock waves through the crypto gym and marked one of the most volatile trading sessions ever registered for ETH.
Within a few hours, the price recovered, deleted almost the entire drop and stabilized above the key support levels. Despite this rapid recovery, Ethereum is now facing serious risks as it is something below a crucial resistance level, which means that investors are uncertain on the next move.
Top analyst Daan shared a technical analysis on X and revealed that both Bitcoin and Ethereum are currently in consolidation and are trying to form a higher low after the dramatic market this weekend. He noted that this phase is crucial to determining the next major trend, as holding over current levels can signal the beginning of a new haus -like leg.
Failure to establish strong support Can lead to further disadvantage and put Ethereum at risk of another correction. With uncertainty that still trouble, all eyes on ETH’s ability to regain lost land and establish speed for a potential outbreak in the coming days.
Ethereum prepares for a crucial movement in the midst of uncertainty
Ethereum is currently traded under the $ 2,800 brand and is struggling to gain momentum after last week’s historical volatility. The latest price measure has left investors frustrated, as hope for a strong rally continues to fade. While Bitcoin has shown relative strength, Ethereum remains at a narrow interval and cannot break over key resistance levels. The uncertainty in the market has led to a reduction in investors’ confidence, with many questioning whether ETH will be able to recover its haus -like structure at any time.
Top analyst daan shared a technical analysis on xReveals that consolidations are formed everywhere. He noted that BTC, ETH and most altcoins show similar patterns – try to establish a higher low after the aggressive flush from the weekend.
According to Daan, if Ethereum successfully breaks its consolidation channel, it can get the momentum needed to drive over important delivery levels and start a new haus phase. However, failure to do so can lead to more disadvantage.
In the coming weeks will be crucial for Ethereum’s price track. If ETH can hold over $ 2,700 and drive against $ 3,000, it can lead to renewed interest rates. However, continuing failure to regain important resistance levels can press Ethereum to deeper consolidation, which further frustrating market players.
Despite short -term uncertainty, the institutions continue to gather ETH and recognize its long -term value. Historically, these periods of consolidation have been followed by explosive price movements.
Price Acient below $ 2,900
Ethereum currently deals with $ 2,750 after days after consolidation below the $ 2,900 mark. Despite several attempts to drive higher, ETH has struggled to regain important resistance levels that would signal a change in speed. The price measure remains uncertain, with bulls trying to keep the support zone of $ 2,700 while looking for a breakout over $ 2,800 to regain short -term control.
The most critical resistance level is still the $ 3000 mark. If Ethereum can successfully press over this price and turn it into support, it will open the door for a rally to higher delivery levels. This would strengthen the Hausse case and potentially trigger a movement against $ 3,300 or higher.
On the disadvantage, it is crucial to hold over $ 2,700 to avoid additional sales printing. If ETH fails to defend this level, a decline against $ 2,600 or even $ 2500 may be the next move. But as long as Ethereum remains within this consolidation interval, traders will continue to see for a decisive outbreak. An end over $ 2,800 in the coming days would be the first sign that bulls gain momentum and a new trend begins.
Featured Image from Dall-E, Chart from Tradingview
