Ethereum Faces Stress As Israel-Iran Conflict Shakes Sentiment – ETH/BTC Support In Focus
Ethereum experienced significant selling pressure due to geopolitical tensions following Israel's attack on Iran, impacting global markets and leading to risk-off behavior in crypto. The price retraced after failing to surpass the $3,000 resistance level, despite previously showing strong momentum. Analyst Quinten Francois remains optimistic about the ETH/BTC pair, which is testing the support line of an ascending triangle, indicating potential for an upside breakout if support holds. Ethereum has surged over 100% since April, positioning it as a potential leader in the next altseason. However, ongoing geopolitical issues inject volatility and uncertainty into the market. Ethereum's performance against Bitcoin is crucial; a bounce could renew bullish momentum, while failure to hold support may lead to further downside pressure. The ETH/BTC pair's strength could signal the broader market's next phase, with a breakout potentially igniting an altseason.
