Ethereum price around $2.575: key zone determines direction

The Ethereum price is moving around $2.575 and has therefore reached a technically important point. An analyst sees a clear pattern on the 12-hour chart: as long as the price remains above the $2.480 to $2.500 zone, a further rise is possible. If Ethereum drops below that, the analyst expects a sharp decline. For now, the price is falling slightly, by 1.6% over the past 24 hours.

Ethereum is available at OKX and Bybit.

In brief:

• Ethereum stands at $2.575 and is down slightly, by 1.6% over 24 hours.
• A close below $2.480 to $2.500 on the 12-hour chart increases the risk of a sharp decline.
• Consolidation above that zone could clear the way for a new upward move.

Key zone between $2.480 and $2.500

The 12-hour chart on Binance shows that Ethereum recently made an attempt towards $2.700, but failed to hold on to that move. The price fell back to its current level around $2.575, just above a dotted horizontal line that runs around $2.580 and acts as resistance.

The zone between $2.480 and $2.500 counts as important support. As long as Ethereum closes above it on the 12-hour chart, a resumption of the rise remains possible according to the analyst. A close below it instead increases the downside risk.

Analyst awaits clear signal

The analyst behind the account eliz883 on X shares a technical analysis of Ethereum and indicates that he is waiting to see how things develop for the time being.

According to the analyst, the chart is easy to read, but a clear signal on direction is still missing. As long as Ethereum does not definitively opt for a breakout upwards or a breakdown downwards, the analyst sees no reason to take action. The coming periods on the 12-hour chart will therefore be decisive for Ethereum’s further price movement.