ETH Taking a Break but Ready to Rev Up? Check Out the Complete Update, Bro! ๐
๐ ETH Market Conditions
Ethereum ($ETH) has been consolidating around $2,500 โ $2,600 lately, after soaring to $2,800 at the end of May. The May monthly candle was even green +40%! But now the market is a bit โslowโ waiting for a new trigger to move further.
๐ฐ Global Sentiment That Affects
โข โ US inflation down โ market becomes calm
โข โ Geopolitical tensions between Iran and Israel โ makes the market risk-off
โข ๐ช ETH ETF flooded with funds ($578 million in 3 weeks)
โข ๐ผ Corporates & whales buying ETH โ SharpLink bought $435 million!
This means that, even though the global market is cautious, ETH is still being eyed by many big players. Medium-term sentiment tends to be bullish.
๐ Sources: Cointelegraph, CoinDesk, Economic Times
๐ Technical Analysis
Support: $2,540 โ $2,440
Resistance: $2,620 โ $2,660
If breakout at $2,660, it could continue to $2,800+
If breakdown at $2,440, target to $2,350
๐ Indicators (RSI & MACD) are still neutral/weak, so large movements can happen at any time.
๐ฎ This Week's Projections
โข ๐ Bullish Scenario: break $2,660 โ target $2,800
โข ๐งโโ๏ธ Sideways: hold $2,500 โ $2,600
โข ๐ป Bearish Scenario: break $2,440 โ down to $2,350
Stay vigilant, bro, but there are still plenty of opportunities! Don't FOMO, stay disciplined with your setup.
ETH is currently โresting,โ but its engine is still running.
Institutions are entering, regulations are calm, and adoption is expanding.
Just waiting for the trigger to continue ๐