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Ethereum is currently retesting its previous resistance zone near $2,470 after a recent breakout that briefly pushed prices above $2,660. Following a pullback toward $2,400-$2,410, technical analysts are observing whether this former resistance level will successfully transform into strong support. The price action aligns with structural supply shifts, as exchange reserves continue to shrink due to record staking participation—reaching roughly 36% of total supply—and steady capital inflows into spot Ethereum ETFs.
