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Ethereum witnessed the most aggressive pressure pressure on date last Monday, with the price decreased by 25 % in one day. This dramatic decline shook the entire market, leaving investors on the edge of the abyss. However, Ethereum is recovered quickly, erasing the entire decrease within hours, causing optimism for recovery. Despite the rapid bounce, Ethereum is now facing great risks because it trades with a little critical resistance, raising concerns about its ability to maintain bullish momentum.
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Daan, Top Crypto’s encryption analyst, shared a technical analysis that highlights that ETHEREUM is respected once again the level of $ 2,800 but failed to move forward in the first test. This level of resistance has become a pivotal point for bulls, because restoring it is necessary for any continuous recovery. According to Daan, the brand of $ 2800 is decisive in determining the next step for ETHEREUM, with the ability to re -ignite the bullish momentum or leads to more monotheism and decline.
As the market continues to struggle with uncertainty, all eyes are on Ethereum’s ability to restore this main level. The bulls should be strong to prevent another wave from the pressure pressure, as the coming days are likely to constitute the course of the coded currency in the short term and determine whether it can maintain its recovery.
Ethereum prepares for decisive movement less than $ 2,800
ETHEREUM is traded without a 2800 dollar sign, and it appears to be preparing for a decisive movement that would form a short -term direction. Investors about Ethereum’s feeling remains diligent, as it was a lot of frustration because of his inability to restore the main levels. The assembly hopes diminish in the second largest encrypted currency, with disappointment.
Share Dan a Technical analysis on xHighlighting the frequent Ethereum failure to penetrate the resistance level of $ 2800. “ETH respects the level of $ 2.8 thousand as resistance again and failed to pay the first test there,” Dan said.
The current price of Ethereum is left in a type of “land of no man”, which makes it necessary to determine where to create a higher decline. This top depression can serve as a basis for raised movement or a possible outbreak.
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Dan suggests that from this point, Ethereum may form a range, which will help reassess its next step. The coming days will be very important for Ethereum, where traders and investors closely monitor whether the cryptocurrency can create support at low levels or stage of more than $ 2800. The failure to restore this main level can prolong the declining direction and lead to more declines, while a successful collapse may cause renewed bullish momentum.
Prices are struggling without the main resistance levels
ETHEREUM is currently trading $ 2,640 after failing to press the brand of $ 2700 since Friday. The bulls seem to have lost momentum, as the price faces a strong resistance between $ 2700 and 2800 dollars. This main supply area crowned the upward ethereum movement, leaving the market in a state of uncertainty.
To restore the bullish momentum, you must find ethereum a strong demand at the current levels and break this critical resistance area. The restoration of these levels will be as support for the first step towards the declining direction that attracted the market since late January. Without this step, Ethereum remains vulnerable to additional risks on the negative side.
If Ethereum fails to seize $ 2600 in the coming days, the price is likely to have a deeper correction. The decline without this level can push the ETH to low -order areas, testing the support about $ 2,500 or less. Traders and investors will closely see the level of $ 2,600 as a decisive threshold for the next movement of ETHEREM.
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Currently, expectations remain declining, and the coming days will be decisive in determining whether Ethereum can mobilize power to restore the main levels or whether there are other declines on the horizon.
Distinctive image from Dall-E, the tradingView graph