The price of Ethereum is holding steady at $2,600 and an intraday recovery is expected, with the aim of challenging the overhead trendline at $3,000. Despite a recent decline in the total crypto market cap and increased liquidations, Ethereum has managed to maintain bullish momentum. Institutional support for Ethereum has continued, with net inflows from U.S. Ethereum spot ETFs and a tweet from Santiment highlighting a significant drop in average transfer fees. An ascending triangle pattern on the two-week price chart indicates a strong support trendline for Ethereum, and there is anticipation of a potential breakout rally if the altcoin season takes off. The consolidation pattern remains intact with $2,750 acting as immediate resistance and a potential support level at $2,400 if the price closes below $2,600.



Other News from Today