At present, $ETH is down 3.94%, currently trading at $2,549. We saw a local high of $2,660 before a swift retracement to $2,436. You can see the volatility, and that's the type of volatility that can keep traders on their toes.

If we look at the 15 minute time frame, we recently broke back above our short-term MA (7) and MA (25), and we're trying to defend that zone. We are establishing resistance around $2,585, which was a prior short-term peak. If we could break above that we could be on the way to retest the $2,600+ region.

Things to watch are the volume as volume is drying up. Be cautious of sellers, as they still dominate the order book (66% sell pressure) and if we cannot hold the $2,540 region watch for a slip back toward $2,500.

🔍 Eyeing the trendline - we could be off to the races should we break up to either direction - fast!