Here's a comprehensive analysis of ETHUSDC on Binance:
*Current Market Sentiment*
Ethereum's price is showing signs of recovery, with a 3% increase today, and is currently trading around $2,656. The short-term trend is bullish, but the broader long-term downtrend hasn't fully played out yet.¹
*Key Levels to Watch*
- *Resistance Levels*: $2,500, $2,800, and $3,000, with large sell orders on Binance at these levels
- *Support Levels*: $1,300-$1,500 range, considered attractive for buying the dip
*Technical Analysis*
- *Trend Overview*: Ethereum is consolidating within a defined range between support and resistance, with a slight bearish bias near the support zone
- *Patterns*: Ascending triangle formation, signaling potential continuation of the uptrend; bullish flag cancellation possible if support levels aren't held
- *Indicators*: MACD and RSI show mixed signals, with some analyses indicating bearish momentum and others suggesting bullish divergence² ³ ⁴
*Price Predictions*
- *Short-term*: Potential targets of $2,500-$2,800, with increased risk beyond that
- *Long-term*: Some analysts predict a rise to $4,000 in September, while others forecast a crash to $730 by the end of the year⁵
*Binance's Asset Shift*
Binance reduced its ETH holdings by 99.9% and converted most assets into USDC,$ETH increasing USDC$ETH holdings by 57.5%. This move might be part of Binance's financial strategy to manage operational risks$ETH
