Ethereum's recent performance has been marred by weaker momentum following a failed breakout attempt. The cryptocurrency's price has fallen below major support levels, raising concerns about its near-term trend.
The price of Ethereum (ETH) has struggled to hold above $2,250, a level that marks the recent low. This has led investors to question whether the current trend can stabilise in the short term.
Despite this, some analysts argue that the longer-term outlook for Ethereum remains intact. However, current conditions suggest a risk-averse environment, with prices failing to break out and stabilise.