Ethereum has posted a solid 3.76% gain over the past 24 hours, currently trading at $2,144.28 with significant volume of 773.8M USDT. The asset touched a daily low of $2,050 before staging an impressive recovery that pushed prices to a high of $2,174.79, demonstrating strong buying pressure at key support levels.
The hourly candle analysis reveals a clear bullish momentum shift that began around the $2,050-2,085 zone, with volume spiking notably during the initial recovery phase (32,360 volume). Price action shows consistent higher lows formation above $2,120, indicating seller exhaustion and renewed buyer interest. The breakout above $2,140 resistance was accompanied by elevated volume, suggesting institutional participation.
Current price action near $2,144 faces immediate resistance around the $2,170-2,175 zone where the daily high was established. The strong volume profile and sustained trading above $2,130 support suggests bullish continuation potential, with traders eyeing a test of the $2,200 psychological level. However, any failure to hold above $2,120 could signal a potential retest of the $2,085 breakout zone.
