Ethereum (ETH) is going through a consolidation phase following recent upward movement in its price. Currently, the price has dropped below the $2,550 support level, adding pressure to the cryptocurrency.
A significant resistance is observed around the $2,500 price mark. Analysts are closely watching this level as breaking through it could potentially lead to recovery for Ethereum's price, signaling a bullish trend.
Market enthusiasts keep an eye on Ethereum's price action, especially concerning resistance levels that could determine upcoming short-term trends and influence investor confidence in the cryptocurrency.
