Ethereum Holds Key Support – Analyst Doubts Bears Can Defend $4K Anymore
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Este artículo también está disponible en español. Ethereum has been attempting to reclaim the $2,800 level for days, but bears continue to apply selling pressure, keeping the price below this key resistance. Despite this, demand remains strong, with bulls successfully holding ETH above the crucial $2,600 support level. The short-term outlook for ETH remains uncertain, as investors speculate on whether the current consolidation phase will lead to a breakout or further declines. Related Reading Despite this, there is a growing sentiment that Ethereum could soon recover. Top analyst Jelle shared a technical analysis on X, revealing that ETH recently took out the lows, retested the key trendline, bounced off key support, and held above the 200-week exponential moving average (EMA). According to Jelle, this confirms that the uptrend structure remains intact, suggesting that ETH still has bullish potential. While price action remains sluggish, Jelle’s analysis highlights that Ethereum is still holding critical levels, which could lead to a strong move upward. If ETH reclaims $2,800 in the coming days, momentum could build toward a push above $3,000. However, if selling pressure continues and ETH loses $2,600, a deeper retrace could be expected. For now, patience is key as Ethereum hovers near crucial technical levels. Ethereum Price Signals Potential Recovery Phase Ethereum has been attempting to reclaim the $2,800 level for the past few days, with bulls struggling to confirm a recovery rally into higher supply zones. Price action remains uncertain, as investors watch closely to see whether ETH can push past this resistance or if selling pressure will drive it lower. The ongoing volatility has kept traders on edge, with some fearing that Ethereum might continue to drop further, testing lower support levels before any potential recovery. Related Reading Market sentiment remains divided, with one side expecting a prolonged consolidation…
Filed under: News - @ February 21, 2025 5:19 pm