Ethereum Remains Range-Bound Above $2,500 Amid Volatile Trading

Ethereum maintains a price above $2,500 after a volatile fortnight characterized by resistance and indecisive movements. Key points include:

ETH struggles against resistance near $2,800 despite bulls defending support levels.
The broader crypto market shows similar sideways trends, with Bitcoin also confined within tight ranges.
Analysts suggest an altseason may occur if ETH reclaims the $3,000 level, which could ignite rallies in lagging altcoins.

Daan, a leading analyst, noted Ethereum's recent volatility and current range-bound status, aligning it with overall market behavior. He advises caution until a breakout occurs from this local structure.

Current Price Dynamics

As of now, Ethereum trades at $2,539, having attempted to hold above the 200-day EMA ($2,440.71) that has become a short-term support zone. Key resistance lies at the 200-day SMA ($2,701.31). Key observations include:

ETH entered consolidation after a rally from below $2,000 to over $2,700, with multiple failed attempts to break past $2,700.
Volume has decreased; a struggle persists between bulls defending $2,500 and bears limiting upward movement.
The bullish structure holds as long as ETH stays above the 200EMA and within the $2,400–$2,600 range.
If support fails, ETH could retrace towards $2,200.
Reclaiming $2,700 is crucial for targeting the psychological $3,000 level.

Traders should brace for fluctuating price action and reduced volatility until clearer trends emerge.