Ethereum's price action has formed a consolidation pattern between $2,500-$2,540 with decreasing volume suggesting accumulation rather than distribution.

The cryptocurrency remains trapped below the critical $2,800 resistance level that has acted as a barrier several times in recent weeks, with traders closely watching for a breakout that could trigger renewed momentum toward $3,000.

Meanwhile, staking activity has reached record levels with over 35 million ETH now locked, potentially reducing circulating supply as geopolitical uncertainties continue to inject volatility across financial markets.

Technical analysts note that Ethereum may be approaching a potential ‘golden cross’—a bullish signal that occurs when the 50-day moving average rises above the 200-day—an indicator that has historically preceded significant upward trends.

Technical Analysis Breakdown

• ETH experienced a 4.05% trading range ($106.11) over 24 hours, with a sharp decline from $2,564.28 to $2,455.95 followed by recovery.
• Strong volume support emerged at the $2,490-$2,500 zone, establishing a critical technical floor that repelled multiple downside tests.
• Price action formed a consolidation pattern between $2,500-$2,540 in the latter half of the period, with decreasing volume suggesting accumulation rather than distribution.
• ETH experienced a significant bullish breakout at 11:43, surging from $2,506 to $2,517 with notably high volume (5,876-8,096 units).
• Selling pressure emerged around $2,515, creating a descending channel culminating in a sharp decline to $2,503 between 12:19-12:22.
• The hourly price action formed a clear V-shaped recovery pattern, with the $2,503-$2,504 zone established as critical short-term support.

Disclaimer: Portions of this article were generated with the assistance of AI tools and reviewed by CoinDesk’s editorial team for accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

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