Ethereum Drops 10% Amid Global Tensions and Macro Uncertainty

Ethereum has experienced a significant pullback, declining over 10% in the last 24 hours due to global tensions and macroeconomic uncertainty. This retrace is influenced by rising US bond yields and escalating trade conflict rhetoric between major global powers. While Bitcoin maintains its strength above key support levels, altcoins, including Ethereum, are under pressure, causing caution among short-term traders.

Despite the sharp decline, some analysts view this dip as an opportunity. Top analyst Ted Pillows shared technical insights suggesting that Ethereum is holding range support well. According to Pillows, Ethereum’s ability to stay above critical support zones is a positive sign, indicating a potential breakout toward higher levels if it manages to reclaim momentum within the range.

Ethereum is showing resilience despite heightened macro uncertainty and political tensions. Following a sharp pullback, ETH has managed to defend key support levels, with bulls stepping in near the $2,400 zone. This recovery comes at a time when the crypto market is on edge, reacting to broader financial market volatility and shifting sentiment across global assets.

ETH remains approximately 48% below its all-time high, leaving substantial upside potential if momentum continues to build. The coming weeks will be decisive, especially as Bitcoin consolidates above $100,000 and traders look to Ethereum and altcoins for the next leg higher. Despite global headwinds, including inflation and escalating trade tensions, Ethereum is maintaining strength within its current range.

Pillows emphasized in a recent analysis that Ethereum is holding range support nicely after the dump. According to his view, reclaiming this range is a key signal that bulls remain in control. If ETH can break through near-term resistance levels and reclaim the $2,600 mark, it opens the door for a push toward $3,000 — a psychological and technical milestone.

Ethereum (ETH) is currently trading around $2,466, holding just above the 34-day EMA at $2,422 after a volatile week. As seen on the daily chart, ETH remains inside a consolidation range between $2,400 and $2,700. Despite recent pressure across altcoins, ETH has managed to avoid a breakdown and is attempting to stabilize above the 50-day and 100-day moving averages.

The chart shows that ETH’s recent pullback stopped just before the 100-day SMA (~$2,068), a level that has acted as a strong dynamic support in past cycles. Holding this structure is critical for the bullish outlook to remain intact. If bulls can push the price back above the 200-day SMA at $2,666, Ethereum could attempt a breakout above $2,700 — a move that would likely open the door to $3,000 and signal renewed strength in the broader altcoin market.

Volume has remained moderate, suggesting traders are waiting for confirmation before entering new positions. As long as ETH holds above the $2,400–$2,450 region, the bullish thesis remains valid. A daily close below $2,400, however, could expose the asset to a deeper correction toward the $2,200 zone, where the 100-day EMA provides additional technical support.