After a major crash over the weekend, Ethereum's price has bounced over 10% back above key support levels but remains uncertain due to geopolitical and macroeconomic factors.
The cryptocurrency is now hovering around the $2,400 level, which has historically served as crucial support, suggesting ongoing investor interest.
Analysts highlight that Ethereum is at a pivotal point, waiting for confirmation on its next direction. A breakout could send it above $2,800, while a crash may lead to a drop towards $2,000.
Analysts anticipate Ethereum's price to potentially reach $2,800–$3,000 during the expansion phase, but failure to sustain above $2,100 could invalidate this bullish projection.