Altcoins News
By James Thorp
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Ethereum Pulls Back After Failing to Hold $3,650. After a promising start to the week, Ethereum (ETH) lost momentum as selling pressure increased…
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Technical Picture: Bulls Hold Their Ground at $3,360. Despite the downside pressure, Ethereum continues to find buyers around the $3,360–$3,400 range.
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Downside Risks Remain if Support Fails. If Ethereum fails to hold above $3,360, the market could face a deeper decline.
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Market Context and Sentiment. Ethereum’s performance mirrors the broader crypto market’s recent consolidation phase.
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Outlook: Cautious Optimism Above $3,360. In the near term, Ethereum is likely to remain range-bound as traders watch for confirmation of a…
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Ethereum price retreated on Tuesday, trimming gains after failing to hold above the $3,650 mark.
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However, the move was short-lived. Bears stepped in aggressively, forcing the price below the $3,550 level.
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By mid-session, Ethereum had declined to around $3,400, approaching the 50% Fibonacci retracement level of the prior rally from $3,178 to $3,658.
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If bulls manage to defend this region, a short-term rebound could emerge. The first test would be regaining $3,500, followed by a move toward $3,550, which now serves as both…
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A decisive daily close above $3,550 would likely confirm a recovery structure, potentially targeting $3,650 initially and $3,800 in an extended rally.
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The Relative Strength Index (RSI) has dropped from overbought levels near 70 to the neutral zone, suggesting that Ethereum’s pullback may be a healthy correction within a larger…
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If Ethereum fails to hold above $3,360, the market could face a deeper decline. The next key supports are seen near $3,290 and $3,220, both of which align with prior…
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A breakdown below $3,220 would open the door to further losses, with $3,175–$3,150 acting as the final defense before Ethereum risks revisiting its early-month lows.
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“ETH’s mid-range weakness is mostly a function of reduced momentum,” said a market analyst. “As long as it remains above $3,360, the structure is still intact.
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Ethereum’s performance mirrors the broader crypto market’s recent consolidation phase. Bitcoin has struggled to regain footing above $100,000, creating spillover effects across…
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