#cryptouniverseofficial #Write2Earn #Binance Ethereum outperforms Bitcoin amid geopolitical tensions, is alt season imminent?

Crypto markets are witnessing intense volatility amid rising tensions between the UAE and Iran globally.

In this situation, uncertainty has spread among investors due to fears of US intervention, which is affecting risk assets.

Nevertheless, Ethereum has held steady at the $2,500 level and shown price stability, although the price has remained stuck within a narrow range that has been in place since early May.

The key resistance level is $2,700, which is essential for buyers to overcome so that the price can move towards $3,000.

However, the repeated reactions at this level show the reluctance of buyers, which reflects the caution of the broader market and the uncertain economic conditions.

Leading analyst Ted Pellows has highlighted that despite global tensions, the ETH/BTC pair is showing strength on the weekly chart, which is a sign of Ethereum’s relatively better performance and It could also signal that the worst of the downturn is over.$BTC $ETH

Ethereum has been stable between $2,500 and $2,800 for about six weeks, with buyers trying to break through the upper limit and bears trying to hold it back.

This situation suggests that a major change in price could happen soon.

However, the ongoing conflict between the Royal and Iran and fears of US intervention are increasing uncertainty in the market, which could cause Ethereum and other risk assets to remain in a one-sided trend.

According to Ted Pellows, if global economic conditions begin to stabilize, Ethereum could repeat its strong performance shown in May.

A clear breakout above the $2,800 resistance level would be evidence of the strength of buyers and would create the possibility of taking the price between $3,200 and $3,500.

Currently, the $2,800 level must be converted into support.