Ethereum Trades Above $2,700 With Bullish Signals Suggesting Potential Move Toward $2,850
2025-07-11 05:29:34
Main Idea
Ethereum's price has risen above $2,700, supported by strong trading volume and bullish indicators, with potential to test the $2,850 resistance level.
Key Points
1. Ethereum's price increased by 5% in 24 hours, reaching $2,790, with market capitalization at $336.81 billion and trading volume up 40% to $26.8 billion.
2. Technical indicators like the Relative Strength Index (RSI) suggest continued uptrend potential, with the $2,700 level now acting as support.
3. On-chain data shows 71% of Ethereum holders are in profit, and large holders control 56% of the circulating supply, indicating strong accumulation.
4. Exchange netflows reveal $493.33 million in ETH withdrawals, a sign of reduced selling pressure and potential for further price increases.
5. The next key resistance level is at $2,850, with market sentiment suggesting possible upward movement if this level is breached.
Description
Ethereum surges past $2,700, marking a significant 5% daily increase fueled by robust trading volume and strong market momentum. With nearly $493 million in weekly exchange outflows and 71% of
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