🚀 ¡ETH Surpasses $2,500 After Long Consolidation! My Analysis 👀
After several months of seeing #Ethereum (ETH) move sideways below $\2,000, we have finally witnessed a significant bullish movement, breaking the barrier of $\2,500! While we saw a brief touch of this level, the price is now stabilizing in the range of $\$2,470 - \2,480.
Personally, I believe that the momentum behind this movement is quite strong. The growing enthusiasm for the potential approval of the #ETH ETF, combined with the continued expansion and activity within the #DeFi ecosystem, could be laying the groundwork for a more pronounced bullish trend.
However, I am also closely watching the $\2,500 area. Historically, it has acted as a significant resistance, and I would not rule out the possibility of some volatility or even a slight pullback in the short term as the market digests this new price level.
In my opinion, the key to ETH's next movement will depend on whether it manages to consolidate above $\2,500 with decent volume. If this happens, we could see momentum towards higher targets. Otherwise, a return to test previous support levels would not be surprising.
I will be closely monitoring the price action and the fundamentals surrounding Ethereum. Let’s stay tuned to what happens!
