Yigit Taha OZTURK 
The cryptocurrency market continues its volatile trend, with Ethereum (ETH) experiencing significant price movements. On the daily chart, Ethereum bounced strongly from the critical support level at $2,108, but faced rejection at a key resistance zone.
According to technical analysis, ETH struggled at the downward Fair Value Gap (FVG) zone. Just above this area, the $2,811 level stands as a major resistance point. If Ethereum manages to break this level, the next target for bulls could be $3,000 and beyond.
Bearish Scenario: $2,000 as a Critical Support
On the downside, if Ethereum loses the $2,108 support level, selling pressure could increase, pushing the price down to $2,000. If daily closes occur below this level, the risk of a deeper correction for ETH may rise.
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Ethereum investors should closely monitor current price movements. For the upward trend to continue, $2,811 resistance must be broken, while protecting the $2,108 support is crucial to avoid further declines.
Market Dynamics and Macroeconomic Impacts
The cryptocurrency market is significantly influenced by global economic developments and investor sentiment. Recent volatility in Bitcoin and the altcoin market has directly affected Ethereum’s price action. Bitcoin’s direction and the movements of major investors (whales) remain key factors in determining ETH’s future price trend.
In this uncertain environment, investors should closely watch support and resistance levels and align their strategies with the overall market direction.
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