Ethereum Holds $2,500 Support – History Signals $4,000 As Potential Target 📈
Ethereum is trading at critical support levels, maintaining its position above $2,500 despite escalating tensions in the Middle East. Historical data suggests this level has led to rallies reaching $4,000, particularly during August 2021 and early 2024. While bullish sentiment persists, geopolitical risks and volatility present challenges.
Recent conflicts between Israel and Iran have heightened market uncertainty, causing sharp market reactions and increased volatility across crypto assets. Ethereum's ability to maintain its support zone amidst selling pressure hints at potential bullish momentum and the possibility of broader altcoin strength.
Currently trading near $2,556, Ethereum remains within a multi-week range between $2,500 and $2,830. Holding above the 50-day and 100-day moving averages provides positive momentum signals. The key support zone of $2,500-$2,520 is crucial as a launchpad for potential gains, with any breach potentially leading to bearish sentiment.