#Ethereum( ETH) Market Update

Currently, Ethereum has entered a consolidation phase after encountering resistance around the $3050 level. The price is expected to further retrace to the support zone of $2780-$2750, which can serve as a buying area. Stop-loss should be strictly set near $2720.

There is a key neckline below this zone. If a strong 4-hour K-line closes below $2725, it will form a clear bearish signal. Once broken, Ethereum may test the $2200 area downward, which aligns with our bearish outlook.

👉 On the bullish side, we need to observe whether the price can rebound strongly from the support zone of $2780 and then break through and stabilize above $3350. If it can sustain above this level, Ethereum is likely to easily reach local highs above $4000.

👉 Such market conditions will rejuvenate the momentum of altcoins, with some altcoins potentially experiencing gains of 50% to 150%.

Patience is crucial at this stage. Once Ethereum reaches our key target zone, we will take appropriate actions accordingly.