Ether Price Rises 3.71% to Over $2,600 Amid Global Market Resilience
Ether (ETH) traded above $2,600, increasing by 3.71% in the last 24 hours, reaching an intraday high of $2,636.76 before settling around $2,614. This rise occurred despite escalating geopolitical tensions in the Middle East.
Key points include:
- Global markets showed resilience amid conflict, with Tel Aviv stocks rising and U.S. equity futures opening positively.
- Institutional demand for ETH strengthened, highlighted by a CoinShares report indicating $583 million in inflows last week—the highest since February.
- Over nine weeks, ETH has attracted $2 billion, representing 14% of total assets under management in ether-linked funds.
- CoinGlass data shows ETH open interest at 13.89 million ETH, valued at approximately $36.32 billion.
Technical analysis reveals:
- ETH ranged from $2,510.10 to $2,636.76 (+5.05% intraday).
- Price action broke through the $2,550 resistance with strong volume.
- A support zone formed around $2,575, with significant buying activity noted during multiple hourly candles.
- A sharp drop was observed at 07:18, but prices recovered quickly.
- Consolidation occurred between $2,627 and $2,630, forming an ascending triangle structure.