Ethereum Price Battles $2,500: Can Bulls Maintain Control?

Currently trading at $2,580.07, the price oscillates below $2,592, the EMA 20, which indicates a bearish overtone in the short-term market sentiment. However, it is crucial to note that bulls are actively defending the $2,500 support zone, attempting to prevent further slides. The Relative Strength Index (RSI) remains neutral around 49, indicating that the market could either consolidate or attempt to reclaim higher levels, with immediate resistance at $2,625. ETH Technical Indicators and Near-term PredictionsThe daily Relative Strength Index (RSI), which currently hovers around 36, suggests a bearish market as bears attempt to break the $2,500 base. This indicates a possible consolidation phase near the $2,550 support level, a crucial juncture that could determine the short-term directional bias.If Ethereum manages to sustain above $2,550, an attempt to retest the $2,600 level can be expected. A convincing break above $2,600 could potentially propel Ethereum toward the $2,700 resistance, followed by the $2,727 mark. Surpassing these levels could lead the way to a more substantial rally, possibly reaching up to the $2,880 zone.

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