Ethereum is trading at a critical juncture after intense volatility rocked the broader market following renewed conflict in the Middle East. After pushing above the $2,800 resistance earlier this week, ETH bulls appeared to regain control. However, the price action failed to hold above that level, pulling back sharply and signaling hesitation among market participants. Related Reading: Whales Dump Over 270 Million Cardano In One Week – Bearish Signal Or Shakeout? This retracement comes as macroeconomic and geopolitical tensions rise, particularly after Israel’s strike on Iran triggered widespread risk-off sentiment across global assets. Ethereum, often seen as a high-beta asset, has not been immune to the turbulence. Despite this, it continues to hover near important technical zones, maintaining the potential for a larger move in either direction. Top analyst Big Cheds weighed in on the situation, highlighting a notable technical pattern: ETH is flexing another small body with an upper shadow on the weekly chart. This suggests indecision and potential weakness at the top, although the structure is not yet fully compromised. The next few daily candles coul ..
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