Ethereum (ETH)
Key points:
At press time, Ethereum was trading at $2,577, reflecting a marginal 0.21% rise over the last 24 hours.
The Supertrend remained in a sell zone, while the RSI hovered near 55.7, indicating mildly bullish momentum.
What you should know:
ETH consolidated under $2,600 after its recent attempt to break past the $2,660 resistance failed to sustain. The Supertrend indicator flipped to a sell signal in late June, following a rejection near the $2,850 level. Although ETH rebounded from the sub-$2,300 zone in early July, the price stalled just below the Supertrend resistance line. Trading volume stayed relatively low, reflecting market hesitation. However, the RSI gradually climbed above the neutral 50 mark, suggesting a slight buildup in buying pressure. If bulls can push the price above $2,660 with volume support, a move toward $2,800 remains possible. Meanwhile, whales withdrew over 6,989 ETH ($17.5M) from Binance in the past three weeks, tightening exchange supply. Ethereum also saw renewed interest from institutions, with BBVA launching ETH services under MiCA and SharpLink Gaming becoming the first public company to adopt ETH as its treasury reserve. Momentum further aligns with a dip in Bitcoin dominance to 64.4%, fueling broader altcoin strength.
