The Ethereum market experienced significant fluctuations over the past weekend due to heightened tensions in the East, resulting in a sharp drop in the ETH USD price and a wider impact on the global cryptocurrency market. However, there are signs of a recovery, contingent upon breaking key resistance levels.

“Major bounce back from sweeping all the liquidity that was built up over the past couple of weeks.” – Daan Crypto Trades

Currently, traders need to focus on holding the ETH USD price above $2,300 to maintain support. This could indicate a recovery phase if sustained. Key highlights for traders to monitor include:

• Market structure remains bullish on 1D
• RSI on 4H has moved quickly from oversold to bullish levels
• FVG zones are filled
• A close above MA200 on 1D is crucial for alt season

The daily chart indicates promising movements with the RSI set to reclaim bullish territory, while technical levels suggest a potential for upward momentum if the MA200 can be surpassed. A V-shaped recovery is emerging, indicating a bullish sentiment; however, caution is advised as market conditions continue to evolve.

For more details and updates, traders are encouraged to join the 99Bitcoins News Discord to stay informed.