Ethereum’s Key Support Zone at $2,060 Could Pave the Way for a Breakout
Ethereum (ETH) is currently in the spotlight as the cryptocurrency market shows signs of renewed momentum. Analyst Ali Martinez has identified a critical support zone between $2,060 and $2,420, where 10 million wallets hold over 69 million ETH. This range could play a pivotal role in determining ETH’s near-term price trajectory. With ETH currently trading at $2,627.50, the market is watching closely to see if this support holds and fuels a further breakout.
Ethereum’s Strongest Support Now At $2,060, Flushing Further Breakout
Ethereum (ETH) is drawing significant attention as the cryptocurrency market gains momentum. Market analyst Ali Martinez has identified a critical juncture for ETH’s price trajectory, pinpointing $2,060 to $2,420 as the key support zone. This range, where 10 million wallets hold over 69 million ETH, could dictate the asset’s near-term performance.
Martinez’s analysis, shared via the Global In/Out of the Money indicator, underscores the importance of this support level for maintaining Ethereum’s bullish momentum. A hold above $2,060 may pave the way for further upside, while a breakdown could signal caution for traders.
Ethereum Stakers Return to Profit as ETH Breaks Key Resistance
Ethereum validators are seeing unrealized gains for the first time since March, marking a potential inflection point for ETH’s value proposition. The resurgence comes as ethereum breaks through the $2,550 resistance level, though technical indicators suggest overbought conditions may loom.
Network fundamentals appear to be strengthening, with analysts pointing to Layer-2 scaling solutions and application migration trends as key drivers. The profitability of staked ETH could signal renewed institutional interest in Ethereum’s proof-of-stake economy.
Ethereum’s Price Correction Sparks Debate: Healthy Retracement or Deeper Pullback?
Ethereum has retreated 5.62% from its recent high of $2,597 as speculative traders took profits. The dip reflects a classic crypto market dynamic—sharp sell-offs often attract opportunistic buyers seeking discounted entry points.
Glassnode data reveals a significant supply shift NEAR the $2,580 level, with approximately 300,000 ETH changing hands. This liquidity event suggests both profit-taking and accumulation, creating tension between short-term weakness and long-term potential.
Market observers are watching whether ETH will follow the ’sigma rule’—a pattern where aggressive dips typically precede renewed buying interest. The current pullback could either signal a healthy consolidation before another leg up, or mark the beginning of more substantial downside pressure.
Ethereum Price Forecast: Can the ETH Price Break Above $2,500 Critical Support or is A Crash Imminent?
Ethereum’s recent rally, its strongest since December 2020, has stalled at the $2,500 resistance level, casting doubt on bullish forecasts. The surge followed a month-long consolidation between $1,450 and $1,900, fueled by spot market demand rather than speculative leverage. CryptoQuant data shows Ethereum’s estimated leverage ratio (ELR) dropping sharply from 0.76 to 0.69, signaling healthier market conditions.
Market headwinds are clearing with the US-China trade agreement and the upcoming Pectra hard fork, positioning ETH as a contender for ’best crypto to buy.’ Unlike typical crypto rallies driven by excessive leverage, Ethereum’s movement reflects genuine investor interest.
Ethereum Whales Trigger Sell-Off as ETH Faces Correction
Ethereum’s recent rally to $2.6k has met with aggressive profit-taking, sparking a three-day downturn. The altcoin now trades at $2,457—a 3.97% daily drop—as whales unloaded 5,677.7 ETH ($14.03M).
On-chain data reveals a surge in selling pressure, particularly from large holders who had been underwater for months. This distribution phase suggests traders are capitalizing on the recovery from July’s $1.7k lows.
ZKsync and Matter Labs X Accounts Compromised in Phishing Attack, Fake Regulatory Warnings Spread
Hackers infiltrated the official X accounts of Ethereum scaling solution ZKsync and its developer Matter Labs, deploying a coordinated attack that blended market manipulation with phishing tactics. The compromised accounts disseminated false claims of a U.S. regulatory probe and malicious airdrop links, triggering volatility in the ZK token.
This marks the second major security breach for zksync within a month, casting doubt on the protocol’s safeguards against social engineering attacks. The incident underscores the persistent vulnerabilities in crypto communications channels despite blockchain’s inherent security advantages.
