Ethereum Still Rangebound Below $2,735 Level – No Clear Breakout Yet
Ethereum has surged 14% recently, testing key resistance levels and placing bulls in control. The cryptocurrency is currently rangebound between $2,475 and $2,735, with the price retesting the upper boundary of $2,735 for the fourth time. This level has acted as both support and resistance, indicating a critical juncture for Ethereum's trajectory. Analysts suggest that a breakout above this resistance could confirm sustained bullish momentum, while failure to do so may lead to renewed selling pressure. Market sentiment is divided, with some anticipating a breakout and others predicting a correction due to overextension risks. Global economic uncertainties contribute to market volatility, making Ethereum's next move contingent on whether bulls can clear the $2,735 resistance or if bears will initiate a reversal.
