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[Technical Analysis]
Ethereum (ETH) Corrected Below $2,500, Awaiting New Direction – June 6, 2025
As of June 6, 2025, the price of Ethereum (ETH) corrected to the range of $2,421, down about 7% in the last 24 hours. From a technical standpoint, ETH is still moving sideways after failing to break through the strong resistance at $2,750. The RSI indicator on the 4-hour timeframe is around the 54 level, reflecting neutral conditions. The price is also between the MA50 and is held back by the MA20, indicating that selling pressure is still active. If ETH manages to break out above $2,750 with a large volume, the potential rally towards $3,000 will be unlocked. However, if the $2,400 support is broken, a deeper correction to the $2,200–$2,100 zone is possible. Watch out for volatility ahead of the Fed's interest rate announcement next week.#BTC ETF Accepted as Loan Collateral #June Market Forecast #etherium #market analyst #BlackRock Buys $560M in ETH