Ethereum (ETH), the second-largest cryptocurrency by market capitalization, is once again demonstrating resilience and strength. After a short dip to the $2,477 level, ETH swiftly rebounded, breaking back above $2,560. This movement comes amid growing interest in spot Ethereum ETFs, which continue to attract institutional capital.
🔹 $2,477 Support Proves Crucial
Despite uncertainties in global markets and rising volatility in crypto, Ethereum has found solid ground. A sharp sell-off during the night hours dragged ETH down to $2,477, but this level quickly became a strong demand zone.
During the drop, trading volume spiked to 291,395 ETH, nearly triple the daily average. The buying interest was concentrated in the $2,467–$2,480 range, confirming that bulls are stepping in to buy every dip.
🔹 Institutional Confidence Grows Through Spot ETFs
A major catalyst behind this recent rally is the sustained inflow of capital into spot Ethereum ETFs. These investment vehicles have been receiving consistent interest from institutions, signaling strong medium- to long-term confidence in ETH despite short-term price fluctuations.
🔹 Technical Outlook: Market Seeks Direction, But Bias Remains Bullish
Ethereum is currently consolidating in a key zone between $2,500–$2,600, which represents a critical technical range. A breakout above this area could pave the way for testing higher resistance levels. Indicators suggest that the correction bottom may already be in — ETH has rebounded from $2,515 and is now stabilizing.
The hourly range between $2,508 and $2,522 (a spread of 14.46 points) shows that the market is still searching for direction. However, the strong buying volume around support levels indicates that bulls still have the upper hand.
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