Ether ($ETH ) Price Analysis: Potential Recovery in Sight

⭕Support and #Bullish Attempt

Ether ($ETH ) rebounded from support near $2,567, indicating that bulls are attempting to establish a higher low. This move signals the possibility of a recovery, though the path forward may be challenging.

⭕ Resistance and Bearish Pressure

The $ETH pair is expected to encounter significant selling pressure between the $2,772 to $2,850 range, where the 20-day #EMA resides. If the price reverses from this overhead resistance, it would suggest that bears are reinforcing the $2,850 level as a key barrier, increasing the likelihood of a decline below $2,500.

⭕Potential Breakout and Market Sentiment Shift

Conversely, a break and close above $2,617 would imply that the market is rejecting lower levels, potentially leading to a stronger recovery. In this scenario, the pair could target the 50-day #SMA near $3,085, with the possibility of advancing toward $3,400 as #BullishMomentum builds. Such a move would indicate a shift in market sentiment, favoring the bulls as they pursue higher levels.

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