Ethereum (ETH) has turned its direction upwards again from the $ 2,477 level and climbed above the $ 2,560 level according to Binance TR data. With strong inflows into spot Ethereum ETFs and a sharp increase in volume, the price is preparing to test important resistance areas.
Ethereum Rises on Strength from $2,477 Support
As crypto markets seek direction in the shadow of global economic tensions and ongoing trade disputes, Ethereum, ranked second in terms of market value, draws attention with the resilience it has shown.
According to technical analysis, ETH is currently passing through a critical technical zone in the $2,500-$2,600 range, and exceeding this zone will be decisive for the continuation of the rise.
Spot Ethereum ETFs have demonstrated institutional investor confidence in ETH with consecutive positive net inflows, suggesting that bullish sentiment remains on solid ground despite heightened volatility.
What Does the Technical Data Say?
- Over the last 24 hours, ETH price moved in a wide range of 3.5% ($99.85).
- With the sharp selling wave at midnight, ETH dropped to $2,477.40, creating strong support at this level.
- The extraordinary trading volume recorded during this drop (291,395 ETH, approximately 3x the average) underlined the importance of the support level.
- High volume buying was observed in the $2,467-$2,480 range, confirming that buyers have stepped in.
- ETH recovered the $2,515 level, suggesting that the bottom of the correction may have been seen.
- The hourly price range was measured at 14.46 points (2,508.02 – 2,522.48), which reveals that the market continues to search for direction.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/ethereum-eth-continues-bullish-momentum-whats-next-here-are-the-details/