Ethereum’s Critical Support Level Sparks Concerns Over Potential Price Plunge – BitRss

Ethereum Analysis

Martinez noted that Ethereum is near the lower trend line of a rising channel formation on the 12-hour time frame. While this formation typically signals positive momentum, a break below the lower line could lead to a negative reversal. If the support around the $2,500 mark holds, significant price increases for Ethereum could be anticipated.

Ali Martinez: “If Ethereum stays above $2,500, it could rise to $4,000 or $6,000.”

Avalanche Evaluation

The analyst applied similar technical analysis approaches for Avalanche. He indicated that if the lower trend line of Avalanche’s symmetrical triangle formation breaks, the