Ethereum (ETH) continues to show volatility, facing bearish pressure that threatens to break key support levels. Despite attempts at recovery, the price of ETH remains below important resistances, keeping investors on alert.
---
📊 Technical Context of the Day
Approximate price: $2,610 USD
Intraday low: $2,482 USD
Recent high: $2,787 USD
Key support: $2,470 USD
Key resistance: $2,600 USD
100-hour SMA: ETH is trading below this average, confirming short-term bearish pressure.
After reaching a high of $2,787, ETH pulled back sharply, breaking through $2,600 and testing critical support levels at $2,470. Although it slightly rebounded to $2,500 and briefly broke a downward trend line, ETH remains vulnerable to further pullbacks.
Immediate resistance at $2,550 and the more significant one at $2,600 are key levels to watch. A break above these levels could pave the way towards $2,700 and then $2,800, supported by recent whale accumulation.
---
🔎 Key Technical Confirmations
Hourly MACD: Negative, indicating sustained selling pressure.
Hourly RSI: 42, suggesting oversold conditions and potential for a technical bounce.
Fibonacci retracement: The retracement from the high of $2,787 to the low of $2,470 finds technical resistance at the 50% retracement ($2,620), a key level to overcome to confirm a bullish reversal.
---
🐋 Whale Activity and Market Trends
Despite recent bearish pressure, whales have accumulated approximately $37.17 million in ETH over the last 24 hours, suggesting medium-term bullish expectations. This withdrawal of tokens from exchanges could mean a reduction in short-term selling pressure and an increase in confidence among institutional investors.
---
🌐 Macroeconomic and Ecosystem Factors
1️⃣ Inflation Data and Monetary Policy
The recent rise in the consumer price index in the U.S. has reinforced expectations that the Federal Reserve will keep interest rates high for longer. This could continue to affect liquidity in the crypto markets in the short term, causing volatility and keeping investors cautious.
2️⃣ Progress on Ethereum 2.0 and Staking
Recent updates on the Ethereum network, such as greater adoption of staking and the reduction of net ETH emissions after the Shanghai upgrade, are strengthening long-term fundamentals. This could bolster confidence in Ethereum despite short-term weakness.
3️⃣ Spot ETF and Regulation
Discussions regarding the approval of a spot Ethereum ETF in the U.S. remain a potential catalyst for new flows of institutional capital. However, regulatory concerns around the classification of Ethereum as a security remain an uncertainty factor that could lead to sharp market movements.
---
📈 Probable Scenarios
✅ Bullish Scenario:
If bulls manage to push ETH above $2,600, the next target would be $2,700 and then $2,800. This scenario would be supported by whale accumulation and the prospect of a technical bounce after the oversold conditions.
❌ Bearish Scenario:
A decisive drop below the $2,470 support could open the doors to $2,420, and if selling pressure persists, ETH could visit levels of $2,350 and $2,320, especially if the macroeconomic sentiment deteriorates or crypto regulation tightens conditions.
---
🔮 Conclusion
Ethereum is at a turning point: selling pressure and the challenging macroeconomic context have stalled bullish momentum, but whale activity and long-term staking consolidation provide a solid foundation.
Investors should continue to monitor key support and resistance levels, as well as regulatory news and technical indicators, to anticipate potential movements and manage their risk exposure.
👉 Will the bulls regain control before the market falls into a new bearish phase? 🚀
#MyCOSTrade #TradingTypes101 #SaylorBTCPurchase #MarketPullback $ETH $BTC $SOL 
