Ethereum is holding above the key 3,100-dollar Fibonacci zone and the daily bullish-support band, signaling resilience in the current setup. Analysts say that maintaining this area and clearing near 3,400 dollars could renew interest across the broader altcoin market.
Analyst Luca noted in a recent update that Ethereum’s market structure has strengthened in recent days. The price remains above the daily uptrend support, a level that has repeatedly acted as a reversal zone over the past two months.
Daan Crypto Trades highlighted that Ethereum is tracing a gradual rise against Bitcoin, supported by the daily 200-day moving average. This slow uptrend often signals underlying bullish momentum, and long consolidation phases frequently resolve into acceleration when momentum picks up. If ETH gains stronger momentum and breaks higher, it could act as a catalyst to lift investor sentiment across the altcoin space, with Ethereum often leading the charge.
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