Ethereum (ETH) – Daily Update
ETH is currently trading around $2,598, recovering nearly 10% from its July 2 lows. After a strong bounce, the price has reclaimed key support levels and is approaching the upper range of a multi-week consolidation.
The recent 5–7% rise has been driven by strong institutional inflows into ETFs, a growing stablecoin market cap, and record-low exchange balances—factors reinforcing the bullish sentiment.
On the macro side, solid U.S. economic data—especially jobs figures—has helped keep ETH above the $2,580 level, in line with broader market optimism.
From a technical perspective, analysts highlight a potential breakout above $2,600, which could push ETH toward $2,746 to $3,000, provided the $2,400–$2,500 support zone holds.
