$ETH Driven by institutional buying, Ethereum remains steady at $2310

Key levels: Price at $2310, support at $2295/$2285, resistance at $2316/$2330. The 1-hour bullish structure aligns with the 4-hour supply zone.
Buy setup: Enter at $2295 (EMA cluster) and $2285 (Bollinger middle band) during decreasing volume.
Sell setup: Reduce positions at $2316 (4-hour MA25) and $2330 (supply zone); if RSI shows divergence, take profits on rallies.
ETH is currently trading at $2310, testing the 4-hour resistance at $2316, while a higher low is forming on the 1-hour bullish structure.
Support levels are at $2295 (EMA cluster) and $2285 (Bollinger middle band); a close above $2316 confirms a breakout toward $2330.
In the UTC 03:00 session, volume surged significantly; divergence across multiple timeframes suggests a potential false breakout, but confirmation is needed.
Long-term whale holdings decreased by 15%, while short-term whale holdings increased by 14%, indicating profit-taking near resistance.
Despite divergence among whales, top traders continue to signal buy.
Divergence indicates that if the price fails to break resistance at $2316 with volume support, caution is advised; monitor momentum changes.
Tom Lee's Bitmine purchased 45k ETH worth $103.5 million, demonstrating institutional confidence.
A dormant ICO wallet transferred out 10k ETH, raising concerns about potential selling pressure, especially amid ongoing large-volume trading interest.
Short-term: Watch whether the breakout above $2316 can push momentum toward the $2330 resistance; failure occurs if it drops below $2295.
Mid-term: If volume decreases during retests, gradually build positions near support at $2295, aligning with the EMA cluster.
Long-term: Keep a close eye on the integrity of $2285; a close below this level could trigger a new test of the $2270 low, where institutional downside protection may activate. $ETH