📊 Market Update
• Price Action: ETH is trading around $2,536, slightly down from yesterday as early-week volatility persists. Over the last week, it’s bounced ~3.4%, though still down about 6–7% in the past month .
• Technical Landscape: After failing to hold in the $2,740–$2,760 zone, ETH dropped sharply to test the $2,490–$2,500 support level . Indicators like RSI dipped into oversold territory (~30), suggesting a possible short-term rebound .
🧠 Sentiment Snapshot
• Fear & Greed:
• The Ethereum-specific index (CFGI) is in Fear territory (score ~39) across multiple timeframes .
• The broader crypto Fear & Greed index is around 54 (Neutral–Greed), indicating moderate optimism among traders .
• Community & Social Mood:
• Social sentiment is largely positive, with sentiment platforms and Coinbase showing bullish trends (~4.4★, 87/100 sentiment) .
• Notable tech news sites report a mix—crypto.news notes rising institutional interest lifting momentum .
📈 Outlook
• Short Term:
• Look for stabilization around $2,500–$2,550. RSI reversal may support a bounce to retest $2,700–$2,760.
• Bearish if price breaks beneath ~$2,490—might test lower supports.
• Medium to Long Term:
• The “cup-and-handle” formation and 200‑day EMA support could propel ETH toward $3,000–$4,000  .
• Institutional adoption, stablecoin growth, and layer‑2/infrastructure upgrades form strong structural tailwinds.
✅ Summary
• Current sentiment: Mixed — Fear on technical metrics, but social sentiment and fundamental news lean positive.
• Support Level: ~$2,500–2,550 – if held, a bounce could form.
• Risks: Macro shocks, failure to stay above support, or broader crypto market pullbacks.
• Upside Potential: Strength in $2,700–$2,800 could unlock a fresh rally toward $3,000+. Structural upgrades and tokenization trends provide a bullish bias.
