List of Flash News about $2500 support
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2025-06-29 19:58 |
Ethereum (ETH) Price Analysis: ETH Defends $2,500 Support as Traders Eye Golden Cross and "Digital Oil" Thesis
According to @rovercrc, Ethereum (ETH) is demonstrating significant resilience by holding the critical $2,500 support level despite recent market volatility. Technical analysis reveals a double-bottom formation near $2,495-$2,510 and a consolidation pattern between $2,500 and $2,540, which, combined with decreasing volume, suggests potential accumulation by traders. A key bullish indicator on the horizon is a potential 'golden cross,' where the 50-day moving average crosses above the 200-day moving average, a pattern historically linked to upward price trends. While U.S. spot Ethereum ETFs saw a minor net outflow of $2.1 million, breaking a 19-day inflow streak according to Farside Investors, the broader sentiment is supported by a report from Etherealize, which frames ETH as "digital oil" for the digital economy. With over 35 million ETH now staked and open interest at $35.36 billion per CoinGlass, traders are watching the $2,800 resistance level for a potential breakout towards $3,000. |