Ethereum (ETH) Price Gained for the Third Session in a Row as the Broader Crypto Market Resurged

Ethereum price gained for the third session in a row on Monday as the broader crypto market resurged on renewed optimism

The price of Ethereum (ETH) rose on Monday as the broader crypto market recovered on

optimism following US President Donald Trump’s suspension of 50% trade tariffs against the

European Union. At the time of writing, ETH was at +0.51% for the 24-hour period, trading at

$2,565.0.

About $14.3 billion worth of Ether was traded in the last 24 hours, with the trading

volume increasing by 9.7% in that time frame.

That signals a growing interest in buying the coin, which will propel ETH price action.

However, on the downside, Glassnode data shows that many ETH holders could be tempted to

sell if the coin hits $2,800. At that point, most of them will have met their cost basis,

presenting a strong case for taking profit to mitigate risk.

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The case for Ethereum price upside is also supported by strong institutional demand, as

evidenced by the performance of exchange-traded funds (ETFs).

According to data from Coinglass, Ethereum spot ETFs registered net positive inflows in nine

of the last ten sessions.

In addition, DeFiLlama data shows that Ethereum chain’s performance in the DeFi market has

been expanding steadily, with its Total Value Locked (TVL) increasing by 4.56% in the

seven-day period to reach $62.871 billion. This signals a surge in demand and utility for ETH.

Ethereum Price Prediction

The momentum in Ethereum price favours a continuation of the upward trend from the

current level of $2,560. As the buyers maintain control, the initial barrier to watch will be

at $2,582. A stronger push by the bulls will clear this level and potentially propel the

price towards testing the $2,600 resistance.

Conversely, a breakdown below $2,560 will shift the momentum back to the sellers. From

there, the coin is likely to encounter the next support at $2,540.

An extended bearish control will break through this level and send the ETH/USD pair to test

the $2,522 support.