Ethereum

David

Polygon

Rise

<p>Ethereum currently finds itself at a critical inflection zone from both a short-term and long-term perspective. According to crypto trader <a href="https://twitter.com/ali_charts/status/1749197673838604379" target="_blank" rel="noreferrer noopener nofollow">Ali</a>, ETH is testing key support between $2,388 and $2,460. As long as this demand zone holds, Ali sees a “clear path ahead with minimal resistance” for Ethereum to trend higher.</p> 
<p>However, trader David <a href="https://twitter.com/DavidOnCrypto_/status/1748945801454231792" target="_blank" rel="noreferrer noopener nofollow">points out</a> that Ethereum also faces major historical resistance around $2,700. This area aligns with the highs from last June, when ETH stalled out and reversed lower. David notes that ETH did manage to break its monthly resistance at $2,700 earlier this month. However, sustaining above this level has proven difficult.</p> 
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<h2 class="wp-block-heading" id="monthly-close-could-set-long-term-trend">Monthly Close Could Set Long-Term Trend</h2> 
<p>Importantly, David is monitoring how Ethereum closes on a monthly basis relative to the $2,725 and $1,934 levels. A monthly close above $2,725 would confirm a macro breakout and support a rally to $3,500. However, failure to hold above $2,725 would open the door for a deeper “monthly retest” of the $1,934 area below the halving.</p> 
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<p>So in summary, the bullish and bearish cases hang in a delicate balance at current levels. Holding the demand zone noted by Ali between $2,388 and $2,460 could fuel a relief rally and build cause for upside momentum. But if the bears resurface, Ethereum remains vulnerable to revisiting the $2,000 level and possibly lower, based on the analysis from David.</p> 
<p>Near-term price action is inherently difficult to predict in volatile crypto markets. However, monitoring critical technical levels often provides an edge. With Ethereum straddling major long-term support and resistance, its next directional move could set the tone for trend progression over the subsequent months and quarters.</p> 
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<p>The post <a href="https://captainaltcoin.com/ethereum-holds-critical-support-but-faces-uncertainty-at-resistance-analyst-says-eth-could-go-as-low-as-this-level-before-halving/">Ethereum Holds Critical Support But Faces Uncertainty at Resistance, Analyst Says ETH Could Go As Low As This Level Before Halving</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Ethereum Holds Critical Support But Faces Uncertainty at Resistance, Analyst Says ETH Could Go As Low As This Level Before Halving

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