$ETH Needs to Find Support

The price of Ethereum has increased by 42% over the past seven days and is currently trading at $2,577. Ethereum, staying above the support level of $2,500, aims to break through the resistance level at $2,654 to continue its upward momentum.

With the price of Ethereum only 16% away from reaching $3,000, it faces a challenge in selling lithium; however, the strong support range mentioned above may prevent the price from declining. Therefore, once selling stops, Ethereum will have another opportunity to rise, provided it secures a support level of $2,814. If market conditions worsen overall, Ethereum faces the risk of increased selling pressure as investors seek to reduce losses. A drop below $2,344 could lead to further declines to $2,141, undermining bullish expectations and potentially halting the rise.