$ETH
Current Price and General Context
ETH is trading around 2,635 USD, up about +3.1% during the day, with a trading range between ~2,494–2,652 USD.
It has seen a rise above 2,600 USD despite tensions in the Middle East, supported by institutional inflows reaching 2 billion dollars over 9 weeks.
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🔧 Technical Analysis
The daily RSI is around 68, close to the overbought zone but below 70, indicating continued momentum.
MACD showed a bullish crossover, supporting the upward price direction.
Moving averages: on the daily timeframe, a "golden cross" formed between MA50 and MA200 on June 14; and on the 30-minute timeframe, Supertrend turned green at ~2,584 USD — positive trading indicators.
A flag pattern has formed on the 4-hour timeframe, with a breakout above targeting 2,890 USD in the near term.
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🌐 Signals from On-Chain and Derivatives
Open Interest in derivatives reached 14.2 billion USD, an 18% increase from the previous week, reflecting strong speculative activity.
Wallet activity and the number of addresses increased by ~12% weekly, indicating rising interest from institutional traders and users.
Gas fees increased to 25 Gwei, indicating congestion and growing interest in DeFi applications on the network.
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🛡️ Support and Resistance Levels
Immediate support: 2,540–2,600 USD, especially at 2,517–2,540 USD where there has been a redistribution for smart asset holders.
