Ethereum Price Struggles Below $2,500; Key Support at $2,354-$2,430
The Ethereum price increased by over 35% in early May, reaching near $2,700 on May 13. However, it struggled to maintain this momentum, falling below the $2,500 mark by the end of the week.
The Next Support Cushion For ETH Price
Analyst Ali Martinez identified key support levels for Ethereum following its dip. The analysis is based on cost-basis data from investors:
- Support identified around the $2,354 – $2,430 zone
- 2.64 million addresses purchased 63.9 million tokens at an average price of $2,395
- This level may provide buying pressure to stabilize prices
The current price of ETH is approximately $2,480, with a 0.7% increase in the last 24 hours but down nearly 4% weekly. If Ethereum does not hold above $2,400, it could drop to around $2,200.
