FX.co ★ #Ethereum chart analysis

The chart presents the hourly price movement of Ethereum over a span from mid-May to early June. The price appears to be oscillating within a wide range between roughly $2315 and $2810. This suggests a period of indecision and consolidation in the market, where neither buyers nor sellers have maintained control for an extended period. The price has shown frequent reversals after reaching resistance around the $2700–2755 area and support near $2400. Several peaks and troughs can be observed, indicating short-term bullish and bearish phases. A notable price spike occurred near the end of May, when Ethereum surged toward the upper end of the range, reaching levels above $2700 before quickly retreating. This failed breakout suggests that bullish momentum was not strong enough to sustain higher prices, and sellers re-entered the market aggressively.

In recent sessions, the price has declined from mid-range highs near $2600 to current levels just below $2500. After testing the lower boundary around $2425, Ethereum bounced modestly, signaling some buying interest at that support level. However, the rebound seems relatively weak compared to previous movements, which might imply waning bullish pressure or trader caution. The current price action also shows tighter candles with smaller bodies, indicating a drop in volatility and possible market hesitation. If Ethereum fails to break above the $2530–2550 resistance soon, we could see renewed selling pressure and a retest of the $2400 zone. On the flip side, a clean break and consolidation above $2550 could open the door for a push back to the $2645–2700 resistance zone. Overall, the chart reflects a market searching for direction, with participants reacting to key psychological and technical levels in a largely sideways structure.