📢 Ethereum (ETH) Update – June 3, 2025
Ethereum (ETH) is currently trading at $2,606.59, reflecting a 4.6% increase over the past 24 hours. The price has fluctuated between an intraday low of $2,482.44 and a high of $2,645.30.
Key Highlights:
Market Cap: Approximately $314.14 billion.
24h Trading Volume: Around $20.07 billion.
Circulating Supply: 120.72 million ETH.
Recent Developments:
Institutional Interest: Renewed interest from institutional investors, including significant ETF inflows, has contributed to the recent price surge.
Network Upgrades: The successful implementation of the Pectra upgrade has enhanced network efficiency and scalability, bolstering investor confidence.
Staking Growth: An increase in staked ETH indicates growing trust in Ethereum's long-term value proposition.
Technical Analysis:
Support Levels: $2,468.56, $2,458.31, and $2,448.31.
Resistance Levels: $2,547.79, $2,673.48, and $2,693.52.
Indicators: The Relative Strength Index (RSI) is in oversold territory, suggesting a potential for price recovery. However, moving averages indicate a bearish trend, and trading volume has decreased, pointing to possible consolidation.
Trading Strategy:
Bullish Scenario: A breakout above $2,547.79 could signal a bullish trend continuation, with potential targets at $2,673.48 and $2,693.52. A stop-loss order around $2,530.00 is advisable to manage risk.
Bearish Scenario: A breakdown below $2,468.56 may lead to further declines, with targets at $2,458.31 and $2,448.31. In this case, a stop-loss order near $2,480.00 is recommended.
Note: Always conduct your own research and consider your risk tolerance before making trading decisions.
