Ethereum experienced one of the most aggressive sell-offs in its history on Monday, plunging 25% in a single day amid market-wide panic. The rapid decline sent shockwaves through the crypto space, marking one of the most volatile trading sessions ever recorded for ETH.
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However, within hours, the price rebounded, erasing nearly the entire drop and stabilizing above key support levels. Despite this swift recovery, Ethereum now faces serious risks as it trades slightly below a crucial resistance level, leaving investors uncertain about its next move.
Top analyst Daan shared a technical analysis on X, revealing that both Bitcoin and Ethereum are currently in consolidation, attempting to form a higher low after the dramatic market flush from this weekend. He noted that this phase is critical for determining the next major trend, as holding above current levels could signal the beginning of a new bullish leg.
Failure to establish strong support could lead to further downside, putting Ethereum at risk of another correction. With uncertainty still looming, all eyes are on ETH’s ability to reclaim lost ground and establish momentum for a potential breakout in the coming days.
Ethereum Prepares for a Decisive Move Amid Uncertainty
Ethereum is currently trading below the $2,800 mark, struggling to gain momentum after last week’s historic volatility. The recent price action has left investors frustrated, as hopes for a strong rally continue to fade. While Bitcoin has shown relative strength, Ethereum remains stuck in a tight range, unable to break above key resistance levels. The uncertainty in the market has led to a decline in investor confidence, with many questioning whether ETH will be able to reclaim its bullish structure anytime soon.
Top analyst Daan shared a technical analysis on X, revealing that consolidations are forming everywhere. He noted that BTC, ETH, and most altcoins are displaying similar patterns—attempting to establish a higher low after the aggressive flush from the weekend.
According to Daan, if Ethereum successfully breaks above its consolidation channel, it could gain the momentum needed to push above key supply levels and start a new bullish phase. However, failure to do so could lead to more downside pressure.
The coming weeks will be crucial for Ethereum’s…
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