Amidst constant volatility, Ethereum continues to maintain its position at $2,508.95 despite a drop in trading volumes to $11.2 billion.
Resistance at $2,750
The current price of Ethereum is struggling against resistance at $2,750, which is key for further growth. If the price does not rise above $2,750, there is a possibility that it could return to the $2,150 level, which has previously served as strong support.
Market Conditions Suggest Sideways Action
Given the current supply of Ethereum at 120.72 million ETH and a volume-to-market cap ratio of 3.69%, the market appears to be moving sideways. Investors are closely monitoring Ethereum's movement around the $2,750 mark, which could provide new direction upon a successful recovery.
Current Characteristics of Ethereum
According to the latest data, Ethereum is trading at $2,508.95, reflecting a minor increase of 0.09% from the previous day. Ethereum's market capitalization stands at $302.88 billion, confirming its resilience in the market.
In the face of market uncertainty, Ethereum continues to operate within a defined range. The $2,750 level will be crucial for future movements, and investors should seek additional information before making decisions.
