$ETH
is holding above $2,500, but it still looks like the weaker major.
$ETH/USDT, daily chart. Ethereum is trading around $2,545–$2,555 after a sharp drop earlier this week that broke the $2,650 range floor. It has since reclaimed the $2,500 area and the 50-day EMA, but the old range floor is now overhead resistance, so this looks like a recovery inside a damaged structure rather than a confirmed reversal.
Levels traders are watching:
Support: $2,500–$2,505, then $2,480
Resistance: ~$2,560, then $2,650–$2,700
Risk zone: a daily close below ~$2,500 opens $2,400–$2,450
Bullish scenario: reclaiming $2,650 and holding it would turn that zone back into support.
Bearish scenario: losing $2,500 on a daily close would put the recent bounce in question.
$ETH also tends to follow $BTC 's reaction to macro data, so Wednesday's US CPI matters here too.
What to watch: the daily close relative to $2,500 and $2,650, and whether volume rises on the bounce.
Is ETH a bounce play here, or do you want a reclaim of $2,650 first?
#ETH #Ethereum #Analsis #BinanceSquare
is holding above $2,500, but it still looks like the weaker major.
$ETH/USDT, daily chart. Ethereum is trading around $2,545–$2,555 after a sharp drop earlier this week that broke the $2,650 range floor. It has since reclaimed the $2,500 area and the 50-day EMA, but the old range floor is now overhead resistance, so this looks like a recovery inside a damaged structure rather than a confirmed reversal.
Levels traders are watching:
Support: $2,500–$2,505, then $2,480
Resistance: ~$2,560, then $2,650–$2,700
Risk zone: a daily close below ~$2,500 opens $2,400–$2,450
Bullish scenario: reclaiming $2,650 and holding it would turn that zone back into support.
Bearish scenario: losing $2,500 on a daily close would put the recent bounce in question.
$ETH also tends to follow $BTC 's reaction to macro data, so Wednesday's US CPI matters here too.
What to watch: the daily close relative to $2,500 and $2,650, and whether volume rises on the bounce.
Is ETH a bounce play here, or do you want a reclaim of $2,650 first?
#ETH #Ethereum #Analsis #BinanceSquare