$ETH showing signs of cautious strength after rebounding from $2,381
📈 Now at $2,493.80 — up +0.33%, but facing resistance near $2,520–$2,531; consolidation after recent sharp sell-off
💥 24h Vol: 400,770.67 ETH | Eyes on reclaiming $2,700 for bullish confirmation
Technical Analysis:
Support levels: $2,457 (24h low), $2,432, $2,381 (recent swing low), $2,350 (stronger support), $2,150 (major support)
Resistance levels: $2,519–$2,531 (immediate), $2,698–$2,750 (key), $2,925 (breakout level), $3,000 (major psychological)
Volume analysis: 24h volume remains robust, suggesting active trading and potential for volatility
Pattern formation: Recent sharp drop followed by bounce; ETH is consolidating in a range between $2,450 and $2,750 after breaking out from a descending channel earlier in May
Key zones identification: $2,519–$2,531 is immediate resistance; $2,698–$2,750 is the key breakout zone; $2,381 is critical support
Previous levels context: ETH rejected from $2,679.88 high, sold off to $2,381.49, and is now attempting to stabilize and recover
Targets:
🎯 Short-term: $2,698 (+8.2% upside)
🎯 Medium-term: $2,925 (+17.3% upside if breakout confirmed)
🎯 Stop-loss: Below $2,381 (-4.5%)
Risk Assessment:
Volatility is increasing; Bollinger Bands expanding, expect sharp moves
MACD shows indecision, with a bearish crossover but narrowing histogram bars
RSI at 64.6, not yet overbought, but room for upside before exhaustion
Market sentiment is cautiously bullish, but failure to reclaim $2,700–$2,750 could trigger another sell-off to $2,350 or $2,150
DYOR (Do Your Own Research)
Bullish or Bearish:
Short-term: Neutral-to-Bullish — ETH is holding above key support and attempting recovery, but needs to clear $2,700–$2,750 for a confirmed bullish breakout. Failure to do so risks renewed downside.
Breakout imminent or more chop ahead? DYOR
