Ethereum has experienced a significant pullback, dropping over 10% in 24 hours due to global tensions and macroeconomic uncertainty affecting investor confidence. The decline is occurring alongside rising US bond yields and trade conflict rhetoric, particularly between the US and China. While Bitcoin maintains its support levels, Ethereum and other altcoins are under pressure.

Despite this, analysts like Ted Pillows suggest the dip might be an opportunity rather than a threat. Ethereum is holding range support, and if momentum is reclaimed, a breakout to higher levels is possible. With Bitcoin consolidating above $100,000, Ethereum might lead the next market rally, opening potential for an altseason.

Currently trading around $2,466, Ethereum is showing resilience amid heightened uncertainty and political tensions between major figures like Musk and Trump. Key support levels near $2,400 have been defended, offering potential momentum if global market volatility eases. Analysts are closely watching Ethereum’s behavior around crucial support to determine if a deeper correction or bullish reversal is likely.

Ethereum's resilience is a positive sign, especially if it breaks through near-term resistance and reclaims the $2,600 mark, signaling continued strength. Maintaining structure above $2,400–$2,450 keeps the bullish outlook intact. However, a close below $2,400 could lead to further corrections, testing support around $2,200.