$ETH is currently trading around $2,540, reclaiming ground after dipping toward critical support earlier today . Recent developments suggest a potential bullish breakout:
• Accumulation Phase: $ETH has been accumulating roughly between $2,480 and $2,550, as buyers defended the $2,480 floor and sellers capped rallies near $2,550 .
• Technical Indicators: The RSI is hovering near neutral (around 50), showing room for upside before overbought conditions kick in. Meanwhile, the MACD histogram has begun to print higher lows, hinting at an early bullish crossover .
• Market Sentiment: On‐chain data and trading volumes have picked up, suggesting renewed confidence around $2,500. Despite a slight pullback from May highs, traders are positioning for a move above $2,550 .
Trade Idea:
• Entry Point: Consider entering around $2,550 if ETH convincingly breaks above that level with volume confirmation.
• Stop Loss: Place your stop below $2,480 to guard against a deeper correction.
• Take Profit: Immediate targets at $2,650 and extended target near $2,750 if momentum accelerates.
Disclaimer:
This content is for educational purposes only. Always do your own research (DYOR) and consult with a licensed financial advisor before making any investment decisions. Cryptocurrency markets are highly volatile—trade responsibly.
Are you bullish on $ETH next move?
