$ETH
ETH Quick Take: $2,307.19 (-0.52% 24h)
1. Price action: ETH was rejected at the key $2,380–$2,400 resistance zone. Selling volume surged 20.95% during the drop to $20.29B, showing strong supply at that level. It’s trading below the 7-day and 30-day moving averages, keeping momentum soft.
2. Why it’s down: Combo of technicals + macro. Strong US jobless claims data hurt Fed rate-cut hopes, creating risk-off pressure. ETH’s 81.8% correlation with the S&P 500 means it moved with equities. Whales also trimmed ∼170,000 ETH (∼$400M) in 24h, adding sell pressure.
3. Key levels:
• Support: $2,295 must hold — break below risks $2,200 • Resistance: Need a daily close above $2,397 to flip bullish and target $2,400+
Near-term bias: Neutral-to-bearish while below $2,400. If $2,295 holds, expect consolidation and another test of resistance. Lose it, and $2,200 is next.
Not financial advice. Crypto moves fast — DYOR.#BitcoinPriceTrends