Ethereum's recent price action has caught the attention of traders as it pushes upward with a solid 3.29% gain, settling at $2,542.82. The chart highlights a key resistance level around $2,571.93, tested within the past 24 hours but yet to be fully broken, signaling strong market pressure. $ETH

Key Observations:

- 24H Range: Ethereum ranged between $2,437.31 (low) and $2,571.93 (high), indicating heightened volatility as bulls are trying to regain control.

- Volume Data: With a 24-hour ETH volume of 349,894.20 ETH, liquidity is pouring into the market, reinforcing the strength of this upward trend.

- Support & Resistance Levels: Immediate support stands around $2,457, while the next resistance level looms around $2,580.

Technical Indicators:

- RSI (59.78): With an RSI just under 60, Ethereum is in the neutral-bullish zone, but still has room before hitting overbought territory. This suggests the possibility of continued upward momentum in the short term.

- 7-Day Performance: Ethereum posted a healthy 5.05% gain over the past week, hinting at a short-term bullish trend.

- Long-Term Perspective: Ethereum has dropped 27.2% over the last 90 days, while the one-year performance stands strong at +59.78%, reflecting resilience despite broader market uncertainties.

Conclusion:

Ethereum is showing solid signs of recovery above $2,500, and a breakout above $2,571 could open the door for higher targets. However, caution is warranted, given the potential for increased volatility with rising leverage. Traders should keep an eye on macroeconomic factors and volume trends to navigate this rally effectively.

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