As of today, Ethereum$ETH is trading at approximately $2,663.45, reflecting a 1.87% increase over the past 24 hours.​​ ​​The cryptocurrency has experienced an intraday high of $2,721.12 and a low of $2,611.16.​​ ​​Ethereum maintains its position as the second-largest cryptocurrency by market capitalization, which currently stands at around $321.66 billion.​​ ​​

📈 Technical Analysis & Trading Signals

Key Resistance Levels:

​​**$2,750**: A critical resistance point. A decisive break above this level could pave the way for further gains.​​

​​**$2,800**: Surpassing this threshold may signal a continuation of the bullish trend.​​​​

Key Support Levels:

​​**$2,550**: A significant support level. A drop below this could indicate potential bearish momentum.​​

​​**$2,500**: Holding above this level is crucial for maintaining the current bullish outlook.​​​​

Trading Insight:

​​Ethereum's$ETH price has found support at $2,500 and is exhibiting bullish behavior.​​ ​​A sustained move above $2,750 could lead to a test of the $2,800 resistance zone.​​ ​​

🐋 On-Chain Metrics & Whale Activity

Exchange Supply Decline: ​​Ethereum's supply on exchanges has decreased to 18.73 million ETH, the lowest since August 2024, indicating reduced selling pressure and a potential bullish sign.​​ ​​

Whale Accumulation: ​​Large holders (10K–100K ETH) have increased their holdings by over 670,000 ETH in the past nine days, showcasing strong confidence among major investors.​​ ​​

🔮 Price Predictions & Market Sentiment

Short-Term Outlook: ​​Analysts suggest that if Ethereum$ETH breaks above the $2,750 resistance, it could target the $3,000 mark in the near term.​​ ​​

Long-Term Projections: ​​Some experts predict that Ethereum could reach $3,500 if it clears key resistance levels, with potential to hit $4,750 by year-end under favorable market conditions.​​ ​​

🛠️ Trading Strategy Recommendations

Buying Opportunity: ​​A confirmed breakout above $2,750 with strong volume could be a signal to enter a long position, targeting $2,800 and potentially $3,000.​​​​

Cautionary Note: ​​If Ethereum fails to maintain support above $2,550, it may indicate a potential pullback, warranting a more cautious approach.​​​​

📌 Final Thoughts

​​Ethereum is exhibiting bullish tendencies, supported by strong on-chain metrics and positive market sentiment.​​ ​​Traders should monitor key resistance and support levels closely to identify potential entry and exit points.​​ ​​As always, it's essential to conduct thorough research and consider risk management strategies before making trading decisions.​​​​

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