📌 $ETH Testing Key Support at $2,500 – Will Bulls Hold the Line?
Ethereum is currently trading at $2,496.26, hovering just above the crucial $2,500 support level. Recent volatility saw ETH dip to $2,499.09 before stabilizing, indicating potential institutional selling pressure.
🔍 Technical Overview:
Support Levels: Immediate support at $2,500; a break below could see ETH test $2,434.55.
Resistance Levels: Key resistance at $2,727.07; surpassing this could open the path to $2,822.15 and beyond.
Market Sentiment: Despite recent dips, the overall sentiment remains bullish, with a Fear & Greed Index reading of 60 (Greed).
🎯 Signal: If ETH maintains support above $2,500, it could rebound towards the $2,700–$2,800 range. However, a decisive break below $2,500 may lead to further downside, potentially testing the $2,434 level.
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#Ethereum Update
$ETH is still moving inside a rising channel and currently testing the support zone around $2,480–$2,500, aligned with the 50 EMA.
If this level holds, Ethereum may bounce back toward the upper channel, with the potential to retest $2,720+.
Accumulation in these levels 2540, 2403, 2388 with stop loss of $2,220
This zone is critical.
Price action here will decide the next big move. 👀
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