๐น Ethereum Price Update $ETH
Current Price: Approximately $2,493.39 USD, reflecting a 0.03% increase from the previous close.
24-Hour Range: Between $2,408.52 and $2,519.88 USD.
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๐ Market Movements & Influences
Recent Decline: Ethereum experienced a significant drop of about 6% on June 6, falling below the $2,500 mark.
Investor Losses: Traders faced approximately $310 million in losses over a 48-hour period.
Technical Indicators: ETH has broken below its 200-day Exponential Moving Average, a level it had maintained since February 2025, indicating potential further downside.
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๐ Broader Market Context
Crypto Market Downturn: The overall cryptocurrency market has been affected by macroeconomic uncertainties and high-profile events, including tensions involving prominent figures, leading to decreased investor confidence.
Options Expiry: Nearly $4 billion in Bitcoin and Ethereum options are set to expire today, which could introduce additional volatility into the market.
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๐ฎ Outlook & Predictions
Support Levels: Analysts are watching the $2,400 support zone closely; a drop below this could signal further declines.
Potential Recovery: Some experts suggest that if $BTC
Bitcoin surpasses the $107,000 resistance level, Ethereum could target a price of $3,000, contingent on broader market conditions.
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