Ethereum Price Struggles to Maintain Momentum Amid Market Downturn
Ethereum has been consolidating between $2,500 and $2,700 after a recent downturn that saw its price fall to $2,400 on June 6. Currently, ETH is trading around $2,523, marking a 1.12% increase in the past 24 hours.
Key Points
- ETH struggled to maintain bullish momentum since early May.
- The price reclaimed the $2,500 level over the weekend following a market dip.
- Significant support observed at the realized price of Binance user deposit addresses at $2,392.
- Other relevant realized prices include:
- OKX User Deposit Address: $2,706
- Addresses Frequently Received from CEX: $2,532
- Highly Active Addresses: $2,513
- Binance holds the largest ETH reserves among centralized exchanges, influencing market behavior.
- Staying above $2,500 may prevent a sell-off; dropping below could trigger losses for holders.
