Analyst Reveals Ethereum Price Bearish Risk Despite 9% Rally
The post Analyst Reveals Ethereum Price Bearish Risk Despite 9% Rally appeared on BitcoinEthereumNews.com.
Key Insights: Ethereum faces strong resistance after failing to hold above $2700 level on recent attempts. A rejection at current levels could pull Ethereum back to $2,500 or even $2,380, per analyst analysis. Ethereum must close above $2,750 to confirm a bullish breakout from its current consolidation range. Ethereum price gained over 9% between June 9 and 10, rising from $2,514 to more than $2,700. The move was backed by an increase in 24-hour trading volume, which surpassed $27 billion. This surge marked an increase in market cap, pushing it to $325 billion. Despite the strong rally, analysts warn that key resistance levels continue to block bullish continuation. Ethereum Price $2,750 Mark Must Break: Analyst According to a recent analysis on X by Ali Martinez, it is not yet time to turn fully bullish on Ethereum price. The analyst pointed to the $2,750 price resistance level as a critical area. This level has historically rejected upward attempts, causing Ethereum to retrace. Ethereum previously surged above $2,660 but failed to break $2,750. Martinez stated that a sustained close above this level is needed before any bullish confirmation. Without it, Ethereum may fall back to $2,500 or even lower to $2,380. These zones have acted as support in recent weeks. Source: X Martinez highlighted the horizontal range between $2,380 and $2,750 on Ethereum’s 4-hour chart. The price has moved within this range since mid-May. Several rejections have occurred near $2,740, showing seller presence at that upper boundary. Intermediate resistance at $2,580 also acts as a pivot. Ethereum often trades around this level without strong follow-through. Unless the price closes firmly above $2,750 with volume, another rejection may follow. ETH Price $2,700 Breakout amid Altcoin Rally Another analyst, Crypto Caesar, shared a similar outlook. In his view, the area above $2,700 represents the…
