Ethereum Trading Near $2,450 as Analysts Predict Potential Price Surge
Ethereum (ETH) Update
- Currently trading around $2,450, testing crucial support at $2,400.
- Resistance zone between $2,720 and $2,860 has been retested since May, indicating potential buildup for a breakout.
- Analysts suggest a possible liquidity dip below $2,233 before an upward movement.
- Clearing resistance may lead to targets near $4,000, last seen in December.
- Degen Hardy maintains a long position as long as ETH stays above $2,400; a breakdown could signify bearish pressure.
Market Activity
- On June 16, whales purchased nearly 1 million ETH, the largest single-day buy since 2018.
- Spot Ether ETFs reported over $200 million in inflows this week, but faced a net outflow of $26.46 million on June 26.
- Current trading price is down approximately 2% over the past day.
- Elevated short positions indicate potential for a short squeeze if prices rise rapidly.
Price Outlook
- ETH is consolidating near the Bollinger Bands’ midline, opening pathways to $3,200 and $4,000.
- RSI around neutral; a rise above 50 could indicate bullish momentum.
- If support at $2,400 fails, the risk of a sharper correction increases.
- MACD shows potential for a bullish crossover if momentum improves.
- Key support levels are at $2,400 and $2,233.
Emerging Project: Subbd
- Subbd is gaining traction in the digital content subscription sector utilizing AI and tokenization.
- The project has raised $699k in its presale, with the current price at $0.055775.
- SUBBD token offers staking incentives and premium experiences for users.