Ethereum Faces Bull Trap at $2,550, Raising Short-Term Concerns

Ethereum recently experienced a bull trap at the $2,550 level, indicating a false breakout as it failed to sustain that price point and lost a critical support level. This development has put investors on edge, signaling potential short-term declines in Ethereum's price.

A bull trap occurs when the price briefly rises above resistance, attracting buyers, but then reverses sharply, causing unexpected losses. For Ethereum, this event suggests heightened volatility ahead.

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