Ethereum Range-Bound: Traders Await Breakout Amidst Sideways Market

Ethereum continues to trade in a tight range between $2,407 and $2,609 as traders await a decisive breakout from this sideways market. A dominant downtrend, marked by repeated rejections near the $2,560-$2,640 level, continues to weigh on ETH’s short-term price action. Strong support zones between $2,106 and $2,168 and $2,280 and $2,360 offer a safety net as ETH hovers near key horizontal levels.