The Ethereum price action has formed a consolidation pattern between $ 2,500- $ 2,540 with a decreasing volume that suggests accumulation instead of distribution.
The cryptocurrency remains trapped below the critical resistance level of $ 2,800 that has acted as a barrier several times in recent weeks, with merchants closely observing a break that could trigger a renewed impulse towards $ 3,000.
Meanwhile, the rethinking activity has reached record levels with more than 35 million ETH now blocked, which potentially reduces circulating supply as geopolitical uncertainties continue to inject volatility in financial markets.
Technical analysts point out that Ethereum can approach a possible ‘golden cross’, a bullish signal that occurs when the 50 -day mobile average rises above 200 days, an indicator that historically has preceded significant ascending trends.
Technical analysis breakdown
- ETH experienced a 4.05% negotiation range ($ 106.11) for 24 hours, with a strong decrease of $ 2,564,28 to $ 2,455.95 followed by recovery.
- The strong volume support emerged in the $ 2,490- $ 2,500 zone, establishing a critical technical floor that repelled multiple low tests.
- The price action formed a consolidation pattern between $ 2,500- $ 2,540 in the second half of the period, with a decrease in the volume that suggests accumulation instead of distribution.
- ETH experienced a significant upward breakdown at 11:43, increasing from $ 2,506 to $ 2,517 with a remarkably high volume (5,876-8,096 units).
- The sales pressure emerged around $ 2,515, creating a descending channel that culminated in a strong decrease to $ 2,503 between 12: 19-12: 22.
- The price action per hour formed a clear recovery pattern in the form of V, with the $ 2,503- $ 2,504 area established as a short-term critical support.
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