#ETH
Analyzing the ETH :
$ETH #
* Current Price: Approximately $2,586.69
* 24h High: $2,648.44
* 24h Low: $2,510.79
* 24h Volume (ETH): 1.11M ETH
* 24h Volume (USDC): 2.86B USDC
Price Action & Trend:
* The chart shows a significant price surge leading up to May 11-12, where ETH reached a local peak around $2,738.75.
* Following this peak, the price has pulled back and consolidated, currently trading around $2,586.69.
* The price is currently above the MA(7) at $2,580.25 and the MA(25) at $2,571.50, suggesting short-term support around these levels.
* The long-term MA(99) is significantly lower at $2,159.01, indicating that despite the recent pullback, ETH is still in a strong uptrend over a longer period.
Volume:
* The volume bars show increased trading activity during the recent price surge, which is healthy as it confirms conviction behind the move.
* Volume has decreased during the consolidation period, which is also typical as traders take profits or wait for the next clear direction.
