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Ethereum Holds Key Range Support – Bulls Set Sights on Higher Levels
- Ethereum remains stable amidst extreme volatility and geopolitical tensions, holding crucial price ranges despite global uncertainties.
- Analyst Ted Pillows suggests that Ethereum's bullish scenario remains strong as it maintains its range structure, indicating buyer control and confidence for a potential breakout.
- Ethereum has recovered over 7% since last week's lows, facing resistance at $2,800 while struggling to sustain higher levels, reflecting divided analyst opinions on potential market direction.
- The ongoing battle between bulls and bears is evident as Ethereum's price action teeters around key levels, with a breakout above $2,800 seen as a potential trigger for a broader altcoin rally.
- ETH is currently trading at $2,626.98, demonstrating rejection near the $2,770-$2,800 resistance zone while finding support around $2,580-$2,620, signaling a continued range-bound movement.
- Ethereum's ability to defend support levels and surpass $2,800 could lead to further upside towards $3,000, but failure to hold key ranges may expose ETH to selling pressure and a negative sentiment shift.
- Overall, Ethereum's price action remains crucial, with the market awaiting a decisive move that could shape the near-term direction for ETH and potentially the broader altcoin market.
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