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Ethereum Price Review: Accumulation at $2,500 or Breakdown?
- Ethereum's price has decreased by 16% since June 11, failing to break above the $2,870 resistance zone and dropping to $2,439.
- The recent selloff is attributed to uncertain times in the crypto market, influenced by geopolitical tensions like the Israel-Iran conflict.
- Ethereum is currently consolidating above $2,500, seen as a major accumulation spot that could potentially lead to a short-term bullish trend.
- Despite geopolitical uncertainties, Ethereum is holding above $2,500, showing signs of potential accumulation and buyer interest for a price increase.
- The support zone below $2,500 has historically been a significant accumulation area for Ether, indicating a potential uptrend.
- Technical indicators like Accumulation/Distribution, RSI, and MACD suggest a potential bullish momentum for Ethereum in the near future.
- Traders are advised to monitor volume closely, as a sudden bullish spike could indicate a move above current levels for Ethereum.
- The $2,600 zone is a key short-term resistance level for Ethereum, with a successful break potentially leading to a retest of $2,770.
- In light of the current market uncertainties, traders may consider setting a support level for Ethereum at $2,380 for risk management.
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