Ethereum #ETH (ETH) Gains Key Support - Will Altcoins Rebound?

In the past few hours, the cryptocurrency market has seen a significant pullback, with major tokens experiencing losses. Bitcoin (BTC) briefly fell to a low of $104,684, while Ethereum (ETH) touched $2,564 before gaining support and rebounding. This decline triggered massive liquidations, with over $485.66 million in positions being liquidated, of which $453.53 million came from long positions.

Ethereum has reclaimed the critical $2,600 level and is currently trading at around $2,637, showing signs of stability and potentially laying the groundwork for a new bullish phase.

Ascending Triangle Support Level

Zooming in on the 4-hour chart, ETH appears to be trading within a classic ascending triangle - a bullish continuation pattern commonly found in an uptrend. This pattern is characterized by a series of rising lows converging to a flat horizontal resistance level, gradually creating pressure for a breakout.

On Thursday, ETH attempted to break through the resistance zone between $2,713 and $2,737, but this move ultimately proved to be a false breakout as the price quickly reversed, leading ETH to drop to the support level of $2,560. However, this area coincides with the ascending trend line and the 100-period moving average, which successfully acted as a buffer, preventing further declines.

Will Altcoins Rebound?

As ETH rebounds from a strong technical support level, traders are watching for the possibility of another breakout. If the bulls can push the price above the resistance level of $2,713 to $2,737 and confirm this trend with a clear retest, the next technical target would be around $3,125 - representing a 19% upside from current levels.

Such a breakout could have broader implications for the entire market. Historically, when ETH leads the rally, altcoins often follow suit, resulting in larger percentage gains. If the breakout of this ascending triangle is confirmed, it could serve as a trigger for a wider rebound in altcoins. #交易类型入门 #美国加征关税 #加密市场回调 #特朗普媒体科技集团比特币财库