Whether Ethereum can regain the higher ground or faces renewed selling pressure will depend on its upcoming movements around key support and resistance areas.
Currently, the BBTrend indicator for Ethereum stands at 8.77, indicating a significant drop from 11.83 two days ago.
Despite the decline, the indicator has remained positive over the past three days, suggesting that Ethereum has maintained a fundamental bullish structure even as momentum slows.
This shift could indicate the early stages of a potential consolidation phase, where the market takes a breather before deciding its next major movement.
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