Ethereum (ETH) is under pressure but showing resilience amid market turbulence. Currently trading around $2,544, ETH has declined roughly 8% in the past 24 hours, with intraday prices swinging between a low of $2,466 and a high of $2,768. The drop mirrors a broader crypto market sell-off, driven largely by intensifying geopolitical tensions between Israel and Iran, which triggered over $1 billion in liquidations—with Ethereum among the most impacted, falling over 10% intraday.

Despite the sharp pullback, ETH is still trading above key technical support in the $2,500–$2,600 range, backed notably by the 200-day EMA around $2,473. This level may act as a critical pivot point.

On a more optimistic note, institutional demand is building, with U.S. spot Ethereum ETFs drawing in roughly $699 million in June alone. Technically, indicators such as a golden cross, rising open interest in futures, and large leveraged whale positions point to possible upward momentum, with $3,000+ as a target if support holds.

In short: While ETH remains vulnerable to macro-driven volatility, it’s currently holding a crucial support zone. If geopolitical fears ease and institutional flows persist, Ethereum could regain its bullish footing.