A brief and useful technical analysis of Ethereum (ETH) as of May 24, 2025, to help you make a buy or sell decision:
🔍 Current Price Overview
Current Price: Approximately $2,540.
Daily Range: Between $2,498 and $2,734.
Annual Range: Between $1,385 and $4,102.
📈 Technical Analysis
General Indicators: Most technical indicators recommend "Buy" or "Strong Buy," reflecting bullish momentum in the market.
Momentum Indicators:
RSI: Exceeds level 50, indicating buying strength.
MACD: Positive crossover, reinforcing bullish expectations.
🧭 Support and Resistance Levels
Strong Support: At $2,500 level, which has proven effective in preventing further declines.
Current Resistance: At $2,750 level; breaking this level may open the way to reach $3,000.
📊 Fundamental Factors Influencing
Declining Supply on Exchanges: Ethereum's supply on exchanges has reached its lowest level since August 2024, indicating an increase in long-term holding and strong buying momentum.
Network Activity: The total value locked in smart contracts has risen to $65.3 billion, reflecting increased network usage.
✅ Recommendation
Based on technical analysis and current data, Ethereum is considered in a "Buy" or "Strong Buy" position. However, it is
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