Ethereum (ETH) is currently trading at approximately $2,481.23, reflecting a slight decline of 0.77% over the past 24 hours. The price has experienced fluctuations, with an intraday high of $2,600.00 and a low of $2,459.69.
In this article, we will look at ETH next target by looking at price chart and technicals.
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ETH Next Target
- Current Price: $2,481.23
- 24h Price Change: -0.77%
- 24h Range: $2,459.69 – $2,600.00
- Market Cap: Approximately $298.3 billion
- 24h Trading Volume: Approximately $22.9 billion
- Circulating Supply: Approximately 120 million ETH
There are signs of bullish trend reversal: Price had a bullish breakout from Falling Wedge pattern and above multiple resistance levels. It also made a Higher High and Higher Low, which is also a sign of Uptrend.
It got overbought (RSI > 70) near a stiff resistance area: $2,760 horizontal resistance and 200-day Moving Average (200 SMA at $2,700). We would wait for a pullback to near $2,100 support for an entry.
Fundamentally, there’s a potential positive catalyst in 2025: if US regulators allow ETH Spot ETFs to stake Ethereum.
📈 Key Technical Indicators
- Relative Strength Index (RSI): ~58 (neutral)
- MACD: Bullish crossover observed
- Support Levels: $2,450, $2,400
- Resistance Levels: $2,600, $2,750
- Current Trend: Sideways with potential for upward movement
📰 Latest Ethereum News & Developments
- 📈 ETF Inflows
Ethereum ETFs have seen significant inflows in May, reaching a record $8.7 billion in net assets. - 📊 Market Dynamics
Ethereum’s trading volume increased by 15% to 12.3 million ETH, and gas fees rose by 8% to an average of 20 Gwei. - 🛠️ Network Developments
The upcoming “Pectra” upgrade, expected in mid-2025, aims to enhance Ethereum’s scalability and staking capabilities.
📌 Summary
Ethereum is currently navigating a period of consolidation, with the price stabilizing around $2,481.23. Technical indicators suggest potential for upward movement, supported by positive ETF inflows and upcoming network upgrades.
👉 Short-Term Forecast: Neutral to slightly bullish, contingent on breaking above $2,600
📉 Risk Factor: Moderate – due to market volatility and external factors
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