ETH Recovers From $2,477 Amid Increased Spot ETF Inflows

Global economic pressures and trade conflicts are shaping the landscape of cryptocurrency markets, with ETH displaying notable strength amid widespread market fluctuations.

Currently, the second-largest cryptocurrency is dealing with a pivotal technical range between $2,500 and $2,530, identified by analysts as a vital resistance point that needs to be surpassed for further price escalation.

Institutional interest continues to thrive, as spot Ethereum ETFs have seen a series of positive inflows, which indicates increasing confidence among large investors despite ongoing market turbulence.

Key Technical Observations:

• The ETH price movement over a 24-hour span demonstrated a considerable range of 3.5% ($99.85).
• An abrupt sell-off during the midnight period drove prices down to $2,477.40, establishing a crucial support zone.
• An outstanding trading volume of 291,395 units, nearly triple the average, underscored the importance of this support level.
• Buyers began accumulating at the $2,467-$2,480 support range, validated by substantial volume between 08:00 and 09:00.
• Recent trading patterns reveal an upward trend, with ETH regaining the $2,515 mark.
• A potential higher low pattern indicates that the previous correction may have reached its bottom.
• The zone between $2,520 and $2,530 continues to pose as immediate resistance for further price gains.
• A significant bullish impulse at 13:35 pushed prices from $2,515.85 to $2,521.79, supported by remarkable volume of 5,839 units.
• A sharp decline at 14:00 saw prices decrease by 5.07 points to $2,508.02, accompanied by a strong trading volume of 4,043 units.
• The hourly price fluctuation of 14.46 points ($2,508.02-$2,522.48) points to a state of market indecision.