Ethereum (ETH) Attempts a Recovery, but Heavy Selling Persists: Details

"See you at $3,600 in the short term," one analyst said. At the start of the business week, the second-largest cryptocurrency briefly fell below $2,300, but buyers stepped in over the past 24 hours, and the asset is now trading around $2,350. While many analysts remain bullish on ETH’s prospects, persistent selling from wallets linked to the Ethereum Foundation could hinder the asset’s progress and weigh on investor sentiment. The Upside Targets X user Ella noted that the cryptocurrency finally moved out of the $2,300-$2,320 range and claimed the four-hour chart has started printing higher lows, calling it “a good first step.” The analyst said the key level now is $2,400, and reclaiming it could lead to a pump toward $2,440. For his part, Michael van de Poppe argued that the rebound from around $2,300 is “a strong move,” but a bullish breakout is not yet confirmed. “Much rather than thinking that we’re going to see another drop, the markets are at the most optimal sweet spot to hold and turn back upwards,” he added. Ted and MikybullCrypto also weighed in. The former said ETH is currently at a crucial resistance level, and reclaiming $2,400 would be the first major sign of strength....