Current Market Activity: Ethereum has been consolidating below the $2,600-$2,900 range after the August 5th capitulation, signaling potential for further downside.
Key Resistance Levels:
$2,600-$2,900: Until Ethereum reclaims this range, bearish pressure remains dominant.
Bearish Scenario: If Ethereum fails to break above this resistance, a drop into the $2,100-$2,300 zone is possible.
Long-Term Outlook: Despite short-term challenges, there is optimism for a stronger crypto market in 2025, driven by a weak Dollar and low interest rates.
Bullish Scenario: Ethereum needs to reclaim the $2,600-$2,900 range to shift momentum back in favor of the bulls.
#Ethereum #ETH #Crypto #MarketAnalysis #TechnicalAnalysis #Cryptocurrency #Bearish #SupportAndResistance #PriceAction #LongTermOutlook
Key Resistance Levels:
$2,600-$2,900: Until Ethereum reclaims this range, bearish pressure remains dominant.
Bearish Scenario: If Ethereum fails to break above this resistance, a drop into the $2,100-$2,300 zone is possible.
Long-Term Outlook: Despite short-term challenges, there is optimism for a stronger crypto market in 2025, driven by a weak Dollar and low interest rates.
Bullish Scenario: Ethereum needs to reclaim the $2,600-$2,900 range to shift momentum back in favor of the bulls.
#Ethereum #ETH #Crypto #MarketAnalysis #TechnicalAnalysis #Cryptocurrency #Bearish #SupportAndResistance #PriceAction #LongTermOutlook
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.