Ethereum Weekly Chart Nears Tower Top Formation As US Launches Attack On Iran – Details
Ethereum has fallen below the critical $2,320 support level, breaking a range maintained since early May. This decline was triggered by heightened geopolitical tensions following U.S. attacks on Iranian nuclear facilities, leading to panic selling in global markets. Ethereum has lost over 22% since its June peak, contributing to uncertainty in the broader crypto market. Analysts note that Ethereum's weekly chart suggests a potential tower top pattern, indicating further downside unless buyers reclaim key levels soon. Market sentiment remains fragile, with predictions split between a deeper retracement toward $2,000 and a potential recovery. The next few sessions are crucial for determining Ethereum's trajectory and its impact on the altcoin market.
