Despite recent volatility, Ethereum is still trading within a bullish pennant formation since 2021, suggesting a consolidation phase and building momentum for a breakout. Analysts anticipate a massive rally into price discovery once Ethereum breaks out of this pattern. Ethereum is facing selling pressure and struggling to reclaim the $3,000 mark, increasing the likelihood of a deeper correction. However, the long-term bullish structure indicates a potential breakout and a push above $4,000. If Ethereum fails to reclaim key levels, a deeper correction to $2,500 could occur. Reclaiming the $3,000-$3,100 level could signal renewed bullish momentum and push Ethereum higher. Traders and investors are closely monitoring support and resistance levels for Ethereum's next major move.



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