🔥 $ETH Update: Dancing Around $2,518 - The $2,500 Defense
Ethereum's holding its ground at $2,518, and honestly, this feels like a pivotal moment. Bulls have managed to defend the key $2,502 level (20-day EMA), which is exactly what you want to see for continuation.
📊 Technical Picture:
Critical Support: $2,500 (psychological + technical confluence)
Immediate Resistance: $2,550 → $2,630-$2,650
Pattern: ETH has formed a bull flag on the daily chart — classic bullish continuation setup
RSI sitting at 57.5 — right in that sweet neutral zone. Not overbought, not oversold. Room to move either direction, but the momentum feels constructive.
🎯 Market Context:
Analysts eyeing the $2,800-$3,000 range if support holds
Recent bounce from the $2,300 support zone reinforced the bullish outlook
ETH showing relative strength vs the broader market
📈 What I'm Watching: The $2,500 level has been battle-tested multiple times and keeps holding. That's institutional money stepping in. Strong demand around the $2,486-$2,490 zone confirms this isn't just retail FOMO.
My Read: This consolidation above $2,500 is healthy. We're building a base for the next leg up. A clean break above $2,550 with volume could trigger that bull flag target toward $2,700+. But lose $2,480 and we're probably revisiting $2,400.
The risk/reward setup is getting interesting here.
💡 Trading Setup:
Entry: $2,515 (current levels, scaling in)
Target: $2,680
Stop Loss: $2,450
ETH loves to move when BTC stabilizes. Keep those stop losses tight and let the winners run.
#DeFi