$BTC

Ethereum Holds the Line — Critical Support Zone Tested Again

Because Ethereum has plummeted over 14% since Wednesday, traders and long-term holders are worried. Bullish investors expected ETH to break over $3,000 and confirm a wider cryptocurrency rise days earlier.

However, global turmoil has slowed markets. Israel's assaults on Iran and retaliations shook global markets on Thursday, causing crypto asset volatility and risk-off.

Historical trends between August 2021 and early 2024 suggest that keeping $2,500 has led to rallies reaching $4,000. Rekt believes Ethereum must maintain consistency around this zone to prevent a deeper retreat and maintain bullish momentum.

ETH has held $2,500 over five weeks, proving its stability despite numerous testing. In the weeks ahead, altcoins and the crypto market will depend on whether Ethereum can maintain this footing again.

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