Ethereum price action has generated a combination pattern between $ 2,500- $ 2,540 with a reduction of volume suggesting accumulation rather than distribution.
Cryptocurrency remains trapped under a critical $ 2,800 resistance level to act as a barrier several times in recent weeks, with entrepreneurs closely watching a breakout that can trigger a changed momentum to $ 3,000.
Meanwhile, staking activity reaches record levels with more 35 million eth now locked.
Technical analysts note that Ethereum can approach a potential ‘Golden Cross’-a bullish signal that occurs when the 50-day transition of average increases above the 200-day-an indicator with history preceded by important upward trends.
Breakdown of technical examination
- ETH experienced a 4.05% trading range ($ 106.11) within 24 hours, with a sharp decline from $ 2,564.28 to $ 2,455.95 followed by recovery.
- Strong volume support appeared in the $ 2,490- $ 2,500 zone, establishing a critical technical floor that threw many downside tests.
- Price action generated a combination pattern between $ 2,500- $ 2,540 in the last half period, with a reduction of volume suggesting accumulation rather than distribution.
- ETH experienced a significant bullish breakout at 11:43, which fell from $ 2,506 to $ 2,517 with a striking high volume (5,876-8,096 units).
- Pressure sale appeared around $ 2,515, creating a downward channel ending with a sharp decline of $ 2,503 between 12: 19-12: 22.
- The hourly price action was formed by a clear V recovery pattern, with a $ 2,503- $ 2,504 zone established as critical short-term support.
Denuch: Parts of this article were formed with the help of AI tools and reviewed by the CoinDesk editorial team for accuracy and compliance with our standards. For more information, see CoinDesk’s entire AI policy.
