🔥 Key Takeaways
Ethereum Price Breaks Bearish Trend, Now Faces a Critical 10% Test
Ethereum price is up nearly 4% over the past seven days, showing fresh strength after months of pressure. That move stands out because ETH is still down roughly 33% over the past three months, keeping the broader trend firmly bearish until now. The latest bounce has finally broken that bearish structure. But just as the cryptocurrency market is known for its unpredictability, this turnaround now faces a critical test that will determine if the reversal is here to stay or if it’s just a temporary reprieve.
The bearish trend in Ethereum has been a dominant force for months, with each attempt at a rebound met with aggressive selling. However, the recent price action suggests a shift in market sentiment, with buyers stepping in to challenge the bears. The result is a break above the bearish trend line, a significant technical achievement that could pave the way for further gains. Yet, the journey ahead is fraught with challenges, particularly a critical 10% test that Ethereum must pass to convince investors and traders that the trend reversal is genuine.
The 10% test refers to the resistance level that Ethereum needs to overcome to confirm the strength of its current uptrend. This level is critical because it represents a psychological barrier that, if breached, could lead to a surge in buying interest, pushing Ethereum’s price even higher. Conversely, failure to break through this level could signal that the recent gains are nothing more than a bear market rally, designed to lure investors back in before the price drops again.
Read Also Epochs
