Ethereum (ETH) Daily Analysis
Despite the selling pressure of recent days, Ethereum has once again managed to defend the $2,385 support. Currently, the price is trading around $2,484, and in the technical outlook, recovery signals are increasingly strengthening. Especially the preservation of this area after the break of the downtrend indicates that the upward structure is still valid.
$2,385 has been an important reversal area since March. The price has received a clear reaction from this level three times. This shows that buyers are seriously defending this area. With the reaction coming from here, ETH tends to head again towards the $2,711 resistance. If this level is broken with volume, the $2,838 and $3,004 levels successively appear as targets. Especially closings above $3,004 can enable the medium-term upward trend to gain momentum again.
Technically important levels:Supports: $2,385, $2,098, and $2,004Resistances: $2,711, $2,838, and $3,004
On the fundamental side, the picture is complex but not entirely negative:ETF Process: Ethereum spot ETF applications are still under SEC review. Although the delays may seem negative, in the event of a positive outcome, there may be significant fund inflows into ETH.Musk–Trump Tension: Musk's taking a clear position against political pressure and Trump's statements have created short-term stress in technology and crypto-focused investments. However, the impact of this is more dominant on BTC; the ETH side remains relatively more resilient.On-Chain Activity: Although gas fees remain low, transaction volume is slowly recovering with Layer-2 solutions. There is also stability on the staking side after ETH 2.0.
As a result, Ethereum has technically recovered from a strong support and is creating space for upward attempts. Although short-term uncertainties persist, both the technical structure and fundamental developments support a move towards above $2,711. However, a clear development may be necessary to surpass this level.
In summary:ETH received a strong reaction from the $2,385 support.Closings above $2,711 may accelerate upward momentum.ETF expectation and chain recovery support the positive scenario.The market is currently waiting for a clear breakout; the positive structure is preserved but resistance levels must be surpassed for confirmation.
