# Ethereum Price Drops to $2,504.89 as Bearish Pressure Mounts

Ethereum is currently trading at $2,504.89, marking a -1.78% decrease in the last 24 hours. The significant trading volume of 590,103.90 ETH suggests heightened market activity, with overall sentiment leaning bearish. 📉

The price drop comes amid increased selling pressure, pushing Ethereum below the $2,550 support level. This downward movement reflects a broader trend of profit-taking in the cryptocurrency market, as investors react to macroeconomic uncertainties. The current price action suggests a potential further decline if the bearish momentum continues.

With a market capitalization of 1,483,307,390.82 USDT, Ethereum remains a dominant force in the crypto space. However, the declining price coupled with the high trading volume indicates a shift in market dynamics. A circulating supply of 3,414,430 işlem further contributes to the complex interplay of supply and demand influencing the price.

Key support levels are currently situated around $2,450 and $2,400. Resistance levels are at $2,550 and $2,600. Breaking below the $2,400 support could trigger a further sell-off, while reclaiming $2,550 might signal a short-term bullish reversal.

Observing the recent trading patterns reveals a descending triangle formation, which typically suggests a continuation of the downward trend. However, a decisive break above the upper trendline could invalidate this pattern and potentially lead to a price surge. Traders should closely monitor these patterns for potential trading opportunities.

In the short term, Ethereum’s price is expected to remain volatile, with a potential for further downside if bearish pressure persists. Reclaiming the $2,550 resistance level would be a crucial step for a potential bullish reversal. However, failing to do so could pave the way for further declines.

Key levels to watch in the coming days are the $2,400 support and the $2,550 resistance. A break below $2,400 could accelerate the downtrend, while a break above $2,550 could signal a shift in momentum. Traders should exercise caution and manage their risk accordingly.

Final Summary:

• Current Price: 2,504.89 USDT
• 24h Change: -1.78%
• Market Cap: 1,483,307,390.82 USDT
• 24h Volume: 590,103.90 ETH
• Circulating Supply: 3,414,430 işlem