Ethereum (ETH) was facing renewed downward pressure in late trade, tumbling below the $ 2,500 level as the selling volume was increased and wider risk detective weakened. Global merchant stresses and renewed US customs risks have triggered risk-off streams, with digital assets that are increasingly reflecting traditional markets in their reaction to geopolitical uncertainty.
Data on the chain revealed significant influxs to centralized exchanges-icing 385,000 ETH to Binance-a Dding for speculation that institutional players can trim positions. Although ETH has recovered modestly to trade around $ 2,506, market observers are close to whether buyers can defend this level or whether another leg is lower.
Technical analysis highlights
- ETH acted within a fleeting $ 48.61 range (1.95%) between $ 2,551.09 and $ 2,499.09.
- Price action formed a bullish rising channel before breaking down in the last hour.
- Heavy count appeared near $ 2,550, with the profit recorder accelerating to a sharp reversal.
- ETH dropped from $ 2,521.35 to $ 2,499.09 between 01:53 and 01:54, with a total volume exceeding 48,000 ETH across two minutes.
- Volume normalized shortly after, and the price recovered slightly and consolidated about $ 2,504- $ 2,508 tape.
- The $ 2,500 level now serves as preliminary support, although momentum remains fragile with signs of distribution that is still evident in recent volume patterns.
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