As of June 4, 2025, Ethereum (ETH) is trading at approximately $2,644.35, reflecting a 0.41% increase over the past 24 hours.
🔍 Technical Overview
Support & Resistance: ETH is currently navigating between a support level around $2,585 and a resistance near $2,707. A breakout above this resistance could pave the way toward $2,940 and potentially $3,159.
🤑🤔Moving Averages: The 20-day EMA stands at $2,538, while the 200-day EMA is at $2,462, indicating a bullish trend as the current price remains above these averages.
Relative Strength Index (RSI): The RSI does not currently show any bearish or bullish divergence, suggesting no immediate signal for price reversal.
📈 Short-Term Forecast (Next 24 Hours)
🤑🤑🤑Price Predictions:
CoinLore forecasts ETH to reach approximately $2,654 by June 5.
Changelly anticipates a 1.52% increase, projecting a price of $2,664.52.
😶🌫️😶🌫️Market Sentiment: The Fear & Greed Index stands at 62, indicating a "Greed" sentiment, which often precedes market corrections.
🤑😵💫 Recent Developments
Market Dynamics: A significant market selloff occurred on May 30, affecting major cryptocurrencies, including Ethereum.
😵💫🤑Options Expiry: An Ethereum options expiry worth $1.64 billion on Deribit is approaching, with 95% of puts potentially expiring worthless, which could influence short-term price movements.
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📊 Summary
Ethereum's price is exhibiting a cautious upward trend, supported by key technical indicators and positive market sentiment. However, upcoming events like the substantial options expiry could introduce volatility. Traders should monitor support and resistance levels closely and stay informed about market developments to navigate potential fluctuations effectively.