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Ethereum Charts Signal Potential Bottom – All Eyes On Next Move
- Ethereum is trading at critical demand levels, testing the lower boundary of a six-week range around $2,400.
- Despite retracing from $2,800, Ethereum has not broken below this range, indicating buyer support.
- The consolidation phase suggests a potential for a strong move with bulls needing to regain control.
- Analyst M-log1 suggests Ethereum might have bottomed out and is in an accumulation phase.
- The ETH/BTC ratio near support levels hints at a possible altcoin rally if Ethereum holds or rises.
- Global tensions and market uncertainties impact Ethereum, with a tight price range between $2,360 and $2,700.
- Ethereum plays a key role in leading altcoin market momentum, with expectations for the altseason.
- Market closely watches Ethereum's current range for breakout potential, especially after recent analysis by M-log1.
- Ethereum's current price slightly below $2,450 could trigger bullish momentum if reclaimed strongly.
- Ethereum's price at $2,405 shows strong support around the $2,360–$2,400 area but remains below the 200-day moving average.
- The 50-day and 100-day moving averages add to the range's tightening, indicating potential high volatility on a breakout.
- High trading volume suggests active market participation with a potential for a cascade if support at $2,360 is breached.
- A move above $2,500 for Ethereum could set the stage for a breakout toward the $2,700–$2,800 resistance zone.
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