Ethereum is negotiated above the $ 2,500 mark but continues to fight with high resistance almost $ 2,600, a key level that has capped further in recent sessions. After winning more than 23% since June 22, ETH showed signs of strength, recovered crucial levels and surfing the wave of optimism on a market scale. However, like the wider stalls of the cryptography market, Ethereum’s momentum seems to slow down.
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The upward impulse that made that ETH higher at the end of June now meet opposite winds. Despite maintenance above significant mobile averages and maintaining a short-term trend, Ethereum failed to break decisively above the $ 2,600 barrier. Analysts warn that a failure to recover this level with a strong volume could lead to a short -term correction.
The higher analyst Carl Runefelt shared information indicating a potential downward configuration on the 4 -hour graph. According to Runefelt, Ethereum forms a model that could lead to withdrawal to lower demand zones if momentum continue to fade. The next few days will be essential, because the bulls are trying to maintain control while we have the opportunity to recover short -term domination.
Ethereum faces a critical level
Ethereum approaches a crucial stadium after a week marked by volatility and a renewed bullish momentum. After recovering the level by $ 2,500 and increased by more than 23% since June 22, ETH has found the attention of investors. However, the rally is now faced with a critical test: exceeding the level of resistance of $ 2,700. A successful decision above this threshold could ignite a wider Altcoin rally, because Ethereum often acts as the leader for the Altcoin market.
The feeling of the market remains cautiously optimistic, the bulls seeming to control the action of short -term prices. Ethereum is negotiated above key mobile averages and remains structurally optimistic on higher deadlines. However, the price is blocked just below the area from $ 2,600 to $ 2,700 – a key supply area which must be returned to the support to confirm the next ascending leg. A clean break could propel the ETH into a new price range, allowing other altcoins to follow and break above their own levels of resistance.
Carl Runefelt warns This Ethereum is currently forming an upright corner pattern on the 4 -hour table – a potentially downward configuration. If the model takes place, ETH may not break higher and fall back to the lower support areas. Runefelt indicates the level of $ 2,200 as a key horizontal support which could be tested if the momentum is weakening and the sellers regain short -term control.
For the moment, the action of Ethereum prices remains in a tight range. A break or a decisive break will probably define the management of the Altcoin market in the coming weeks. Traders and investors are looking closely at the next ETH movement, as this could set the tone for the rest of the summer cryptography cycle.
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ETH price analysis: Key resistance at $ 2,600
Ethereum’s prices action continues to reflect a rope shot between bulls and bear while it oscillates around the level of $ 2,550, just under critical resistance at $ 2,600. After recovering this level briefly, ETH failed to maintain its earnings and fell slightly, suggesting that the sellers remain active in this area. The graphic shows Ethereum forming a short -term summit, increasing short -term prudence among traders.
Simple 50 days and 100 days that are now converging between $ 2,500 and $ 2,530, acting as immediate support. As long as ETH is above these levels, medium-term perspectives remain constructive. However, any sustained drop below these mobile averages could invite additional downward pressure, maybe bring the price back to the range of $ 2,400 or even test the 200-day SMA almost $ 2,180.
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The volume has remained moderate, which shows that no part has taken total control. Until the ETH decisively exceeded above $ 2,600 and returns it in support, the upward trend remains unconfirmed. The next key resistance is at $ 2,700. Conversely, a rejection of the current levels could indicate the formation of a structure linked to the beach or an increasing corner failure, as some analysts such as Carl Ruefelt suggest.
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