$ETH

🔍 Factors Affecting Price Increase

Decrease in Short Positions: Over $42 million in short positions have been closed in the Ethereum market in the past 12 hours, indicating buying pressure in the market.

Increase in Adoption: Despite price volatility, the adoption rate of Ethereum is increasing, which could contribute to its long-term stability and growth.

Whale Activity: Some market whales are selling, but strong support is observed from retail investors.

📊 Technical Analysis

Support and Resistance Levels: Ethereum faces resistance in the price range of $1,548 to $1,599, while a strong support level is observed around $1,461.

Technical Indicators: Technical indicators like MVRV indicate the likelihood of a market reversal and the continuation of the upward trend.

✅ Conclusion

If you are interested in investing or trading in the Ethereum market, it is recommended to closely monitor the market and use risk management tools.