📉 Ethereum Faces Critical Test at $2,500: Can Bulls Rescue the Key Support? 🚨💹

Ethereum's journey above $2,600 hit a roadblock, triggering a pullback to the crucial $2,500 support. As bulls brace for a defense, let's dissect the current scenario and explore potential outcomes for ETH.

1. Ethereum's Struggle for Momentum: Bulls at a Crossroads!

Ethereum's attempt to breach $2,600 faced resistance, leading to a retracement below $2,550 and the 100-hourly Simple Moving Average. A critical bearish trend line near $2,540 is forming, signaling a pivotal moment for ETH/USD.

2. The Battle at $2,500: Bulls' Last Line of Defense!

As ETH revisits the support zone, bulls must rally to protect $2,500 and $2,470. A successful defense could spark a renewed upward move, with potential resistance levels at $2,540, $2,580, and a breakthrough paving the way to $2,620.

🚀 Path to Recovery: Upside Targets and Hurdles!

A clear break above $2,540 is essential for Ethereum to regain momentum. The next challenges lie at $2,580 and $2,650, with a successful breach opening doors to $2,720. Bulls eyeing sustained gains might push the price toward the coveted $2,800 zone.

🔍 Downside Risks: What If $2,500 Support Falters?

Failure to conquer $2,540 could initiate another downward spiral. Initial support lies at $2,500, followed by a critical level at $2,470. A breach here might expose ETH to further losses, with $2,400 and $2,350 emerging as potential support zones.

📊 Technical Indicators Paint a Cautionary Tale:

Hourly MACD: Gaining momentum in the bearish zone.

Hourly RSI: Below the 50 level, indicating a cautious sentiment.

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