NEWSLETTER
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ethereum has been fighting below the $ 2,800 brand for days, with a feeling around the second largest cryptocurrency in the increasingly negative world. The persistent sales pressure has left investors and analysts concerned with ethereum's ability to organize a recovery, and many begin to lose hope of a rally.
The bearish feeling has only intensified as eth continues with a lower performance compared to bitcoin and other important assets, which causes frustration among market participants who expected a stronger start of the year.
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Despite this negative perspective, there are reasons for optimism. The superior analyst Jelle shared a technical analysis that reveals that ethereum is still being quoted inside an ascending triangle of several years, a bullish graphic pattern that could indicate a higher significant movement. This pattern suggests that ethereum may be consolidating before a possible rupture in higher prices. Historical patterns have shown that ascending triangles often lead to explosive price movements when key resistance levels are violated.
As eth is quoted near critical support levels, the next few days will be crucial to determine their short -term address. Investors are watching closely to see if this bullish pattern is maintained and if ethereum can recover impulse, which potentially caused a recovery that could restore confidence in the market.
ethereum prepares for a decisive movement
ethereum seems to be preparing for a decisive movement, since it struggles to recover the impulse in the middle of a challenging market environment. Investors are becoming more and more frustrated with the action of the mediocre price of ethereum, and the optimism for a demonstration is fading.
Compared to bitcoin and other Altcoins such as Solana, ethereum has had a lower performance, leaving bulls with little control over the price action. The constant sale pressure has decreased the hopes of a recovery, which has led many to question whether ethereum can recover their balance.
However, all hope is not lost. The best Jelle analyst recently shared a <a target="_blank" href="https://x.com/CryptoJelleNL/status/1888884718973694311″ target=”_blank” rel=”nofollow”>Technical Analysis in xNoting that ethereum is still operating within an upward triangle of several years, a bullish pattern that historically precedes explosive movements.
According to Jelle, the price of ethereum has feed on both sides of this structure, a behavior that often suggests that the next movement will be the real business. This technical configuration indicates that ethereum is building energy for a significant break or breakdown.
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Jelle also highlights the $ 4,000 mark as a critical supply zone. ethereum has tried this level three times without success, but believes that the fourth attempt could finally make its way. If ethereum can eliminate this key resistance, it would mark a turning point and potentially light a rally in the discovery of prices, restoring confidence among investors.
Price analysis: key levels to maintain
ethereum is currently quoted at $ 2,650 after several days of selling pressure and uncertainty. The price has fought to claim the $ 2,800 mark since last Wednesday, which reflects a bassist feeling that has dominated the action of the price of eth since the end of December. Bulls face growing challenges as the impulse remains on the side of bears, and trust between investors continues to weaken.
To reverse the ongoing descending trend, bulls must maintain the level of $ 2,600 as strong support. This price has acted as a key demand zone in the past and could provide the basis for a recovery. However, simply maintaining this level is not enough: time must also recover the $ 2,800 brand and, more importantly, break above the level of $ 3,000 to indicate a change in the feeling of the market.
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If ethereum can be kept above $ 2,600 and successfully recover the levels of $ 2,800 and $ 3,000, it could generate an impulse in higher supply areas. A movement like this would provide the necessary impulse for bulls to recover control and potentially lead eth to stronger resistance levels. However, not maintaining $ 2,600 could open the door to an additional disadvantage, with the following significantly lower critical support levels.
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