Ethereum (ETH) faced late, updated downside pressures with trading below the $2,500 level as sales volumes surged and wider risk sentiment weakened. World trade tensions and updated US tariff risks create risk-off flows, and digital assets are increasingly reflecting traditional markets in response to geopolitical uncertainty.
On-chain data revealed a significant influx into centralized exchanges (particularly 385,000 ETH is Binance). ETH has since recovered modestly to trade around $2,506, but market observers have been closely watching whether buyers can defend this level or if another foot is imminent.
Technical Analysis Highlights
- ETH traded between $2,551.09 and $2,499.09, within the $48.61 range (1.95%).
- Price Action formed a bullish ascending channel before breaking at the final time.
- Massive sales showed up at nearly $2,550, and accelerated into a sharp turnaround by making profits.
- ETH dropped from $2,521.35 to $2,499.09 between 01:53 and 01:54, with total volume exceeding 48,000 ETH in two minutes.
- The volume was promptly normalized, the price recovered slightly, consolidating the band between $2,504 and $2,508.
- The $2,500 level is currently serving as interim support, but the momentum remains vulnerable as recent volume patterns still reveal signs of distribution.
External reference
- “Ethereum price analysis: Will ETH be dumping to $2K next, as momentum is fading?”
- “Ethereum Bulls Defend Support – Key indicators are short-term meeting tips,” NewsBTC, published on May 31, 2025.
