Ethereum (ETH) is continuing its upward trend in the $2,460 range. During the session, it briefly rose above the $2,490 mark, but subsequent sell-off pressure has pushed trading to a somewhat lower level than the high.

Price Movement: Up 1.91% from 24-Hour Opening Price

On the Binance spot market on the 24th, Ethereum is trading at $2,462.89, up 1.91% from its 24-hour opening price of $2,416.72.

Over the same period, it recorded a low of $2,389.85 and a high of $2,490.89. The intraday price range from low to high was approximately 4.2%, showing relatively high volatility. The current price is about 1.1% below the intraday high.

Sell-Offs Emerge in the $2,490 Range... Partial Gains Returned

The activity near $2,490 is interpreted as an influx of short-term profit-taking volume or selling pressure, resulting in the return of part of the gains.

Trading indicators show spot volume of approximately 400,000 ETH and a trading value of about $979.7 million.

With the price above the 24-hour opening level, buyers hold the advantage in the short term. However, the pullback from the intraday high makes it difficult to characterize the trend as a one-sided rally.

Factors Influencing Ethereum's Market Valuation

Ethereum is regarded as a major asset representing the cryptocurrency market alongside Bitcoin. Various blockchain services, including smart contracts, DeFi, stablecoins, and NFTs, operate within the Ethereum ecosystem, meaning network usage and on-chain activity can also influence market valuation.

Outlook: Reclaiming the High Is Key

In the short term, the key question is whether Ethereum can digest the sell-off volume near the intraday high of $2,490 and strengthen its upward momentum again. If the high is reclaimed while trading value holds up, upward momentum could continue. Conversely, if volume shrinks and the high fails to be recovered, the possibility of a short-term correction must be kept in mind.

Other variables that could affect future price movements include Bitcoin's direction, overall risk appetite in the cryptocurrency market, U.S. interest rates and dollar trends, and Ethereum network-related issues.

[This article was written with AI assistance. Cryptocurrencies are highly volatile assets, and this article is intended to provide market information, not investment advice.]