Ethereum (ETH) is down over 1% on Friday. A key technical support level suggests a bounce off $2,490 amid signs of investor accumulation across on-chain metrics.
Ethereum price today: $2,520 Ethereum on-chain metrics indicate addresses are accumulating again. Ethereum added 3.64 million holders between September and October, 40% higher than in July and August. Ethereum could retest the $2,707 resistance if it bounces off the $2,490 support level. Ethereum is down over 1% on Friday. A key technical support level suggests a bounce off $2,490 amid signs of investor accumulation across on-chain metrics.
ETH/USDT daily chart If ETH reclaims the $2,817 level and maintains an extended move above the 50-day and 200-day Simple Moving Averages , then it could recover the $3,000 psychological level. The Relative Strength Index and Awesome Oscillator momentum indicators are slightly above their mid-levels, indicating that bullish pressure is modestly dominant. A daily candlestick close below $2,490 will invalidate the thesis.
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