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▲ Ethereum (ETH)
Ethereum (ETH) is maintaining a short-term upward trend in the $2,300 range. According to CoinMarketCap's real-time chart, Ethereum traded at $2,343.35, up 0.7% over 24 hours. Its market cap ranking was recorded as 2nd.
According to CoinMarketCap data, Ethereum's market capitalization increased by 0.83% over 24 hours to $282.99 billion. The 24-hour trading volume surged by 71.01% to $20.2 billion, and the trading volume to market cap ratio was 7.13%. As the increase in trading volume was significantly larger than the price increase, it is interpreted as a rapid expansion of short-term market participation.
The price fluctuation range showed a 24-hour low of $2,313.13 and a high of $2,381.26. Ethereum rebounded from its low and held the $2,300 line, but after confirming selling pressure near the high, it seems to have paused in the $2,340 range. In the short term, whether it can re-break $2,381 could be the first hurdle for further upside.
On the downside, $2,313 emerges as a short-term support level. If this level breaks, the defense of the $2,300 line could become a key variable for market sentiment. Conversely, if Ethereum re-crosses $2,381, the likelihood of additional buying interest due to a 24-hour high breakout increases.
In terms of supply indicators, both total supply and circulating supply were displayed as 120.68 million ETH. The maximum supply appeared to be an unlimited structure, and the fully diluted valuation was calculated to be $282.99 billion, same as the market capitalization. Based on supply, the current circulating supply and total supply are displayed identically, so the dilution burden on CoinMarketCap is not significantly different, unlike XRP.
Ethereum remains 52.66% below its all-time high of $4,953.73. Although a short-term rebound is continuing, a confirmed breakout of the 24-hour high and sustained increase in trading volume are necessary for it to move out of the $2,300 range.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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