#Ethereum Exchange Supply Drops , Price Holds $2,538โEyes $2,741 Next???
$ETH ๐๏ธ buy and trade here ๐
โญ Ethereum Technical Analysis: โญ
Price Bounces off Key Fibonacci Support
From a technical perspective ETH is above $2,515 after bouncing off the 0.382 Fibonacci level at $2,376โan area supported by the 50-EMA ($2,470).
This area has been a strong support since early May and buyers are stepping in to maintain the bullish structure.
โญEthereum Price Chart โญ
Source: Tradingview
MACD has turned bullish with a crossover below the zero line, indicating more upside.
If ETH breaks above $2,600 the next resistance zones are $2,741 and $2,867.
A close above $2,600 could confirm the move towards $3,000 and beyond.
But a break below $2,470 could see a retest of $2,264 or $2,152
โ๏ธ Risk: Use proper risk management โ 3xโ5x leverage โ๏ธ
Not financial advice โ always DYOR! โ