$ETH Testing Support – Bounce or Breakdown?

Current Price: $2,539.60 (-6.61%)

Ethereum is sitting right above critical support near $2,530, after breaching short- and mid-term moving averages.

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Market Snapshot:

24h High/Low: $2,732.76 / $2,498.30

RSI (6): 44.24 – Neutral-to-Bearish

Volume: 885.6K ETH / $2.30B – High activity = volatility risk

MAs:

MA(7): $2,531.76 (Support zone)

MA(25): $2,599.43 (Resistance now)

MA(99): $2,575.38 (Also resistance)

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Trade Setups:

Bullish Case – If $2,530 Holds:

Entry: Above $2,540

Targets: $2,575 → $2,600 → $2,660

Stop-Loss: $2,495

Logic: A reclaim of MA(7) with bullish confirmation could mark a short-term rebound, especially if BTC stabilizes.

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Bearish Case – If $2,530 Breaks Down:

Entry: Below $2,495

Targets: $2,450 → $2,395 → $2,300

Stop-Loss: $2,570

Logic: A clean break of $2,495 with volume could trigger cascading sell orders—momentum is already weak.