Ethereum's Key Support Holds Strong at $2650

Ethereum (ETH) is currently holding above a key support level on its 4-hour chart, according to data from KuCoin. This compression zone has formed, leaving investors wondering whether there will be a breakout or breakdown next.

The trigger for this bullish scenario is a close above $2650 on the 4H chart. If successful, ETH could target prices between $2720 and $2800. However, if it falls below $2550, this support level would be invalidated.