Ethereum (ETH) has broken below its critical bounce zone, signaling the potential for further downside movement. The next key area of interest is around $2,800, which aligns with a significant support level and an unfilled CME gap.
If this scenario unfolds as expected, it could serve as a healthy reset for ETH. Buyers might step in at this lower level, potentially driving the price back up and paving the way for a breakout above the resistance zone — possibly even setting the stage for a new all-time high (ATH).