Ethereum (ETH) began the second half of the year on a positive note, rising roughly by 2.5% to trade at $3,469. This recovery mirrored similar upward movements in the broader crypto market, with total market capitalization increasing by approximately 2.3% to $2.32 trillion. The surge in Ether outflows from crypto exchanges has coincided with the altcoin’s price increase, suggesting reduced selling pressure and a growing preference for holding ETH in private wallets or decentralised protocols.
At the time of writing, ETH was trading at $3,450.
ETH after making the recent top of $4,093 witnessed a sharp correction and the prices fell almost by 31% and dropped to $2,817. The asset took multiple support at $2,850 and started to trade in a ‘Descending Triangle’ pattern. ETH gave a breakout above the pattern and rallied up $3,977. The bulls however failed to cross the psychological level of $4,000 and the asset saw some profit booking and dropped to $3,240. Currently, the asset is taking multiple supports at $3,350 and is trading in a small range between $3,350 to $3,500. ETH has a strong support at $3,350 whereas $3,700 will act as a strong resistance.
| Support 2 | Support 1 | Asset | Resistance 1 | Resistance 2 |
| $3,150 | $3,350 | ETH | $3,700 | $4,000 |
