Ethereum is now the talk of the crypto town again. This time around, the buzz comes from the dramatic rise of ETH inflows into accumulation wallets, suggesting long-term holders are betting big on the ETH price. Further pushing this sentiment, CoinGlass data indicates that Ethereum’s open interest in the derivatives market has climbed nearly 17% to reach an ATH of $33.12 billion. With this, are you keen on ETH price movements in the short term? This Ethereum price analysis is a must-read for you.
Ethereum (ETH) Price Analysis:
Ethereum price today is presently changing hands at $2,626.74, with a +4.45% intraday gain. That’s not all, the price is up +43.01% over the past week, +56.73% over the past month, and 92% in just 35 days. This momentum has lifted ETH above its 200-day EMA of $2,436, a crucial long-term support level, and it is now testing the 50% Fib retracement close to $2,700.
The trading volume since yesterday has surged by over 33.50%, hitting $36.82 billion, while the market cap rose to $316.95 billion. As evident from the chart, Ethereum has also broken out of a falling channel pattern, which further banks on the bullish outlook. Talking about the next big move, if ETH clears the pivotal resistance at $2,800, then the $3,000 psychological barrier could be on the horizon.
Read our Ethereum (ETH) Price Prediction 2025, 2026-2030 for long-term price targets!
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FAQs
The price of 1 ETH at the time of writing is $2,626.74, with an intraday gain of 4.45%.
The support for ETH lies at $2,436, while resistance is at $2,800 and $3,000.
