Ethereum's Critical Support Faces Test Amid Geopolitical Tensions

Ethereum experienced substantial selling activity earlier due to rising geopolitical tensions after Israel initiated an attack on Iran. This unrest has triggered broader risk-off responses across financial markets and cryptocurrencies, leading to a notable retreat from recent highs as ETH failed to surpass the critical resistance level of $3,000. Despite this correction, analyst Quinten Francois remains positive, highlighting the ETH/BTC pair's strength, which currently tests an ascending triangle support—often a bullish sign if it holds. Ethereum's success in maintaining key support levels could rekindle bullish momentum and establish higher targets within the $2,800–$3,000 range; failing that, a further decline could ensue. ETH's relative performance against BTC is central to determining market sentiment, especially given its impressive rebound since April, doubling from lows of about $1,400, and its potential to catalyze an altcoin rally. However, ongoing geopolitical risks risk undermining technical signals, as the market remains volatile and uncertain. A break above resistance and support confirmation might signal the start of a new upward trend, whereas failure could lead to caution and consolidation.