Ethereum faces resistance at $2,520, crucial for bullish momentum.
Santiment highlights Ethereum’s +22.4% dominance over Bitcoin in one week.
Ethereum, the second-largest cryptocurrency, is at a crucial crossroads as it grapples with resistance levels and shifting market dynamics. Over the past week, ETH has experienced a 5% decline, currently trading at $2,462, with a 2.38% dip in the last 24 hours.
Ethereum’s recent struggles to surpass $2,550 and $2,580 mirror the BTC bears’ fight against negative market sentiment post-Bitcoin ETFs. The bears remain active as ETH trades below the $2,500 mark and the 100-hourly Simple Moving Average. Meanwhile, the trading volume is at $11 billion, reflecting a 14% daily increase.
Notably, Ethereum witnessed a bullish trend since the second week of January. Ethereum’s notable price surge from $2,170 to $2,714 during this period has distinguished it from the ongoing volatility of other altcoins. It is in a bearish trap amid Whale accumulation
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