Ethereum (ETH) Struggles Below Key Resistance Levels

Current Market Activity: Ethereum has been consolidating below the $2,600-$2,900 range after the August 5th capitulation, signaling potential for further downside.

Key Resistance Levels:

$2,600-$2,900: Until Ethereum reclaims this range, bearish pressure remains dominant.
Bearish Scenario: If Ethereum fails to break above this resistance, a drop into the $2,100-$2,300 zone is possible.

Long-Term Outlook: Despite short-term challenges, there is optimism for a stronger crypto market in 2025, driven by a weak Dollar and low interest rates.

Bullish Scenario: Ethereum needs to reclaim the $2,600-$2,900 range to shift momentum back in favor of the bulls.

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Bearish PatternsCryptocurrencyETHEthereum (Cryptocurrency)ETHUSDTechnical IndicatorslongtermoutlookpriceactionSupport and ResistanceTrend Analysis

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