Ethereum faced a sharp pullback, dropping over 10% in the last 24 hours amidst global tensions and macroeconomic uncertainty.
Analysts suggest that Ethereum is holding range support well and could potentially break out towards higher levels if it regains momentum within the range.
Despite market volatility, Ethereum has shown resilience by defending key support levels and holding just above the 34-day EMA at $2,422.
Traders are closely monitoring how Ethereum behaves around current support levels to determine if a deeper correction or a bullish reversal is likely in play.