Ethereum price recently hovered in a sensitive area, especially with the price pushing above $2,600. This was because it recently interacted with a descending resistance line that was part of its wedge pattern.
The resistance retest paved the way for two potential Ethereum price outcomes. It could either achieve a bullish breakout or capitulate in favor of a retracement.
It is worth noting that Ethereum price has been ranging between $2,400 and $2,700 in the last 3 weeks as the bulls and bears faced off.
While the scenario underscored the bull’s inability to sustain a strong momentum, it also signaled that ETH holders were not selling aggressively. A sign that they were still confident of ETH’s ability to extend recovery.
ETH price action; source: TradingView
In addition, ETH has been moving deeper into the wedge pattern’s tight squeeze zone, raising the expectations of a drastic directional move. But which direction will price likely lean?
Can Ethereum Price Pick
We współpracy z: https://www.thecoinrepublic.com/2025/06/05/ethereum-price-at-crossroads-as-volatility-risks-loom/
