Ethereum ($ETH ) is trading around $2,408.47, following a macro-driven -3.81% daily decline. The correction stemmed from hotter-than-expected U.S. CPI inflation data, sparking widespread fears of aggressive interest rate hikes and sparking millions in leveraged long liquidations. (https://www.binance.com/en/price/ethereum), (https://www.coindesk.com/price/ethereum)
Technically, $ETH has broken below its psychological $2,500 support level. It is now fiercely defending an immediate downside cushion near $2,300â$2,320. On the upside, reclaiming the $2,450 and $2,560 pivot barriers remains vital to revive a bullish structure. Despite the short-term spot market cooling, network utility expands safely with smart contract activity accelerating on chain.
#EthereumNews #ETH #CryptoAnalysisđđđđ đ #CryptoTradingStories #TechnicalAnalysis
Technically, $ETH has broken below its psychological $2,500 support level. It is now fiercely defending an immediate downside cushion near $2,300â$2,320. On the upside, reclaiming the $2,450 and $2,560 pivot barriers remains vital to revive a bullish structure. Despite the short-term spot market cooling, network utility expands safely with smart contract activity accelerating on chain.
#EthereumNews #ETH #CryptoAnalysisđđđđ đ #CryptoTradingStories #TechnicalAnalysis