🔥 Ethereum (ETH) Price Action in the Last 24 Hours – What Happened? 📊

In the past 24 hours, the ETH/USDT pair experienced a sharp upward movement followed by a quick correction. Ethereum hit a 24h high of $2,608.13 before pulling back to its current level at $2,482.37 (+2.85%). 📈

Key Moving Averages (MA):

MA(7): $2,481.86 – Short-term support 🟡

MA(25): $2,523.68 – Resistance zone 🔴

MA(99): $2,484.76 – Long-term trend still bullish 🔵

The pink arrow on the chart shows the rejection point where ETH hit its peak and then started falling due to heavy sell pressure. 📉

Why Did This Happen? 🤔

1. Profit Taking – Traders started selling after ETH crossed $2,600 💰

2. Psychological Resistance – $2,600 acted as a mental barrier for many traders ⚠️

3. High Volume – 1.15M ETH traded in 24h shows strong market activity 💥

Conclusion 📝

The market is still bullish overall, but the zone around $2,600–$2,620 is acting as a tough resistance. If ETH breaks above this, we could see a move toward $2,700+. If not, a dip below the MA(99) could signal a temporary correction. 🔁

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