Ethereum is now at an important moment after last week’s explosive rally that pushed prices over several important resistance levels. After growing over $ 2,700, ETH has withdrawn and is now consolidated over $ 2,400. This zone has become a critical batter between bulls that want to confirm a breakout and have a deeper correction.
In order to maintain the current Haussearted momentum, Ethereum must hold over $ 2,400 and recover $ 2,800 levels – an area that marks the upper limit of the current consolidation area. A confirmed outbreak over $ 2,800 can ignite a wider rally and signal the beginning of a long -awaited altar season.
Adding strength to the Hausse case reveals new data from Cryptoquant that smart money quickly accumulates ETH. This large -scale accumulation suggests growing confidence among institutional actors and long -term investors, even among increased volatility.
All eyes are now on how Ethereum reacts to these levels. A successful defense of support and one Breakout over the resistance could set the stage for a strong continuation. But failure to hold over $ 2,400 would probably invite more downward pressure and delay further hairy progress.
Smart Money Backs Ethereum as Bulls defends key support
Ethereum shows renewed raisy strength when the marketing entry becomes optimistic about the crypto landscape. After increasing more than 50% in recent weeks, ETH holds over $ 2,400 levels, an important support zone as a trader and analysts both watching. To strengthen a hausse phase and confirm the beginning of a sustainable rally, bulls must shoot Ethereum decisive over $ 2,800. This would trigger fresh momentum and potentially unlock a way back against $ 3,000- $ 3,200 region.
Despite the positive signs, the risks remain. Ethereum is still down about 36% from its December 2024 close to $ 4,100. This gap highlights the workballs still has to do to completely reverse the broader downhill trend. The last break during the resistance is a natural cooling phase, but if ETH fails to keep over support, Baissat pressure can return quickly.
Institutional trust is still seeming to grow. According to Data shared By top analyst Ali Martinez, smart money has collected over 450,000 ETH in the last month. This wave in valence collection indicates a long -term haisseatic view, as large holders usually buy during moments of market consolidation to position for future upside.
If the Bulls manage to defend $ 2,400 and break through the $ 2,800 roof, Ethereum can become the catalyst for a wider Altcoin rally – possibly mark the beginning of a new altar season.
Price action: key levels in focus
Ethereum (ETH) is currently traded about $ 2,493 after failing to maintain speed over the $ 2,700 mark. On the 4-hour diagram, we can observe a clear break in the steep upward that began in early May. After an explosive force from under $ 2,000, ETH collected aggressively, but now enters a corrective phase characterized by lower heights and increasing sales pressure.
The price is approaching $ 2,480- $ 2,460 region, which can serve as a short-term support. If that zone breaks, the next confluence is close to $ 2,300. The volume has slightly decreased during this retracing, which indicates that sellers are careful rather than dominant. However, failure to hold over $ 2,400 can move the feeling and invite deeper backbacks.
The 200-period EMA and SMA on the 4-hour chart is far below the current price, to $ 2,084 and $ 1,936 respectively, which indicates that ETH is still in Hausse territory from a trend perspective. These moving averages can serve as dynamic support if the correction intensifies.
Overall, Ethereum remains in a strong trend, but the current capture suggests that a consolidation phase is ongoing. Bulls must defend key levels and break over $ 2,700 again to regain upward speed and strive for $ 2,800– $ 3,000.
Featured Image from Dall-E, Chart from Tradingview
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