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- What To Know
- What To Know
This was followed by a decisive breakout during the early trading hours, supported by massive volume surges exceeding 550,000 ETH that pushed prices above key resistance levels.
The recent price action confirms a short-term trend reversal, with ETH now trading above $2,575 after establishing new local highs. Institutional interest remains robust, with spot Ethereum ETFs recording $248 million in total net inflows over the past week, suggesting growing confidence from larger investors despite relatively subdued retail participation.
Market analysts point to the $2,800 level as a critical resistance zone where many investors who previously bought at that level may look to exit at break-even. However, with ETH breaking out of its recent consolidation pattern and the broader crypto market showing signs of strength, bulls are now targeting the $2,650-$2,745 range as the next significant hurdle.
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What to know:
- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.