Originally written by Godspower Owie. Source: NewsBTC
Ethereum is currently trading at a critical support level near $2,600, where buyers are actively defending against further short-term downside after recent volatility. This key level holds significance on the 6-hour chart, providing a foundation for potential price stabilization and an attempt at recovery.
Crypto analyst Can Özsüer highlights that as long as Ethereum (ETH) maintains above this $2,600 zone without a decisive candle close below it, the broader trend remains constructive for a possible upward move. He points to a likely bounce toward $3,050, and potentially into the $3,150 range, where the price may consolidate or face resistance depending on buying momentum.
For a more meaningful bullish continuation, reclaiming the $3,350 mark is crucial. Closing above this threshold with strong volume could pave the way for higher price levels. Conversely, failure to surpass $3,350 may cap gains and spark renewed selling pressure, exposing ETH to a deeper pullback around $2,400 to $2,100.
Özsüer has taken a long position based on the $2,600 support on the 1-hour chart and is monitoring momentum closely, ready to increase position size if the conditions improve.
Meanwhile, crypto analyst Ardi draws attention to $2,710 as a vital short-term support. A clean break below this could accelerate downside pressure, focusing attention on the $2,620 swing low as the next critical liquidity zone.
Further protective support is identified near $2,450, which is key to maintaining Ethereum’s broader market structure. A sustained drop under this level may cause a deeper structural breakdown, increasing vulnerability.
Ethereum’s relative weakness against Bitcoin (ETH/BTC downtrend) adds to the bearish sentiment, suggesting higher volatility in the near term and an unstable trading environment for ETH holders.
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Discussion
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