Ethereum $ETH is currently trading at $2,492.16, showing a 4.15% decline over the last 24 hours. The 24-hour high was $2,649.31, while the low reached $2,452.60. This movement reflects bearish pressure in the market, although some signs of recovery are also visible on the chart.
Volume & Market Sentiment
In the past 24 hours, 674,418 $ETH have been traded, equivalent to around $1.72 billion in USDT. According to the order book, 52.96% of market participants are buyers, while 47.04% are sellers. This indicates that there is still some bullish interest in the market.
Technical Indicators
The 60-period Moving Average (MA60) is at $2,496.25, while the current price is trading below it—signaling a short-term downtrend.
The MA(5) and MA(10) are also showing a bearish crossover.
A volume spike is noticeable around the $2,486 level, where a slight recovery has taken place.
The 30-day volume change is positive (59.01%), showing long-term investor interest.
Additional confirmation can be taken from indicators like RSI and MACD (not shown in this chart).
Market Outlook
If ETH breaks the $2,500 resistance level, the next short-term target could be between $2,550 – $2,600. However, if the price breaks below $2,450, a further decline may occur, with the next support level around $2,400.
Conclusion
ETH/USDT appears to be in a consolidation phase. Short-term traders should make careful decisions. The current volume and buyer interest suggest that a reversal is possible, but confirmation will come only if ETH breaks above the $2,500 level.$ETH
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