Ethereum ($ETH ) is currently trading at $2,439.17, showing signs of strength after a rally to $2,463.32. The price has pulled back and is now consolidating, holding above key levels with solid support from moving averages.
Key observations:
Breakout and pullback: ETH surged to $2,463.32 before retracing. It’s now stabilizing near $2,439, setting the stage for the next potential move.
Volume: Volume spiked to 1.49M during the rally, signaling strong buyer interest. It has since normalized, a typical sign of consolidation.
Moving averages:
MA(7): $2,448.40
MA(25): $2,439.65
MA(99): $2,436.52
ETH is hovering above the MA(99), which acts as a key support, with the shorter-term averages showing an upward trend.
Levels to watch:
Support: $2,434.37 / $2,420.95
Resistance: $2,463.32
If ETH holds above these support levels, it could gather momentum for another breakout toward the recent high. This consolidation phase is worth monitoring closely.
