Ethereum struggled to break above key resistance levels at $2,550 and $2,580.
A short-term top was formed, leading to a decline below $2,500, following Bitcoin's trend.
Despite a bullish channel breakout in the weekly chart, ETH faced challenges surpassing the $2,500 mark.
Overhead supply indicates a potential retest, with a risk of a quick drop to $2,000 amid a market slowdown.
Factors like a double top pattern, overhead supply, and market sentiments suggest a looming pullback phase in Ethereum.
Daily chart shows buyers dominating with a rising channel, but a double top at the overhead trendline signals a retest of the $2,400 breakout.
A drop below the $2,400 support zone could result in a price decline to the psychological level of $2,000.
According to Coingabbar analysis, Successful post-retest reversal may challenge the $2,500 breakout rally and face resistance at $3,000.
KEY LEVELS :
RESISTANCE LEVEL : $2,520-$2,580
SUPPORT LEVEL : $2,400-$2,350
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