ETH remains in consolidation phase, awaits trend reversal

While ETH has formed short-term upward momentum by reclaiming the $2,300-$2,400 range, buying pressure has weakened near the key resistance level of $2,500, limiting further gains, U.Today reported. The outlet's analysis suggests the current market action is more indicative of a consolidation phase than a full trend reversal. A breakout above $2,466 on significant trading volume could pave the way for a retest of the $3,000 level. The short-term support zone is between $2,100 and $2,200, and a break below this level could lead to a drop to $2,000.