Ethereum Surges After Holding $2,477, Fueled by Very Heavy Trading Volume.

What to know:

ETH experienced significant price swings with a 3.5% range ($99.85) in 24 hours, finding strong support at $2,477 with extraordinary trading volume.

Recent bullish momentum has pushed ETH above $2,515, forming a potential higher low pattern that suggests the correction may have found its bottom.

In the last hour, ETH showed notable volatility with a surge to $2,522 before encountering resistance and pulling back to consolidate above newly formed support.

Technical Analysis Highlights

24-hour ETH price action revealed a substantial 3.5% range ($99.85).

Sharp sell-off during midnight hour saw price plummet to $2,477.40, establishing a key support zone.

Extraordinary volume (291,395 units, nearly 3x average) confirmed the significance of the support level.

Buyers stepped in at the $2,467-$2,480 support band, confirmed by high-volume accumulation during the 08:00-09:00 period.

Recent price action shows bullish momentum with ETH reclaiming the $2,515 level.

Potential higher low pattern suggests the correction may have found its bottom.

$2,520-$2,530 area remains the immediate resistance to overcome for continued upward movement.

Significant bullish surge at 13:35 saw price jump from $2,515.85 to $2,521.79, accompanied by exceptional volume (5,839 units).

Sharp reversal occurred at 14:00, with price dropping 5.07 points to $2,508.02 on heavy volume (4,043 units).

Hourly range of 14.46 points ($2,508.02-$2,522.48) demonstrates market indecision.