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Ethereum Recovers Above $2,600 After Sharp Drop Triggers Heavy Trading
ETH rebounds after a steep decline from $2,724, with strong volume and renewed optimism hinting at further upside
Ethereum price plummeted from 2724.737 to 2569.766, then recovered to 2621.656.
Increased market volatility underscored by significant trading volume and bearish activity.
A potential for further rise to $3000 supported by institutional interest and network improvements.
Technical Analysis Highlights
- Price opened high at 2724.737 before a sharp decline.
- ETH/USD fell to a low of 2569.766, marking a 6% decrease.
- Recovery observed as the price closes near 2621.656.
- Short-term support identified around the 2570 level.
- Decline period marked by heightened trading volumes.
- Volatile trajectory noted with high at 2642.839 before session close.
External References
- "Ethereum Market Outlook: Technical Indicators Signal Possible Continuation of Uptrend", NewsBTC, published May 29, 2025.
- "Analyst Predicts $3K Ethereum (ETH) Milestone in June", CryptoPotato, published May 29, 2025.
- "Ethereum Repeating Early 2024’s Playbook – $3,800 Target In Sight?", NewsBTC, published May 30, 2205.
- "Ethereum Price Faces Mild Correction — Support Levels in Focus", NewsBTC, published May 30, 025.
