#ETHMarketWatch
As of May 23, 2025, Ethereum (ETH) is trading at approximately $2,697, reflecting a 1.19% increase from the previous day. The day's trading range has seen lows of $2,610.47 and highs reaching $2,721.12
Market Highlights:
Supply Dynamics: Ethereum's exchange supply has hit a 10-year low, indicating a potential supply squeeze that could drive prices higher
Institutional Investment: BlackRock's recent purchase of $45 million in ETH has bolstered market confidence, contributing to the bullish momentum
Technical Indicators: ETH has broken above key resistance levels, with analysts pointing to a potential breakout towards the $3,000 mark if current trends continue
Technical Analysis:
Resistance Levels: Immediate resistance is observed at $2,800, with a potential breakout targeting $3,000
Support Levels: Key support is identified at $2,740, with a deeper level at $2,650 if bearish pressure emerges
The current market sentiment remains cautiously optimistic, with traders closely monitoring these levels for potential breakout or correction scenarios.