ETH Price Prediction: Technical Indicators and Market Sentiment Analysis

• Technical indicators suggest ETH may experience a short-term correction, but the medium to long-term trend remains bullish
• Market sentiment is extremely optimistic, with $2,800 becoming the next key target
• Regulatory risks and ecosystem development will continue to influence ETH price trends

ETH Price Forecast

ETH Technical Analysis: Short-term Correction Pressure Exists, but Medium to Long-term Trend Remains Bullish

According to BTCC financial analyst James's technical analysis, ETH's current price is 2,473.39 USDT, slightly below the 20-day moving average of 2,519.2480, indicating potential short-term correction pressure. The MACD indicator shows strong bullish momentum (64.8724), but warns of short-term overbought risks. The Bollinger Bands show the price is near the middle band, and breaking through the upper band of 2,793.1116 will confirm a new upward trend.

Market Sentiment: Ethereum's Bullish Momentum Continues After Breaking $2,500

BTCC analyst James points out that after Ethereum broke the $2,500 mark, market bullish sentiment is strong. Although the Korean prosecution's investigation of Tornado Cash may bring short-term regulatory concerns, Ethereum's robust ecosystem development and the overall cryptocurrency market's rise provide solid support for ETH. "The $2,800 level will be the next key psychological threshold," James stated.

Factors Affecting ETH Price

Ethereum Poised to Break $2,800 - Bullish Momentum Continues to Strengthen

Ethereum has strongly rebounded 15% since Sunday's low point, regaining upward momentum after geopolitical tensions eased. This rebound has brought ETH back to a key technical range, with analysts generally expecting it to break through the $2,800 resistance level.

With the Israel-Iran ceasefire agreement reached, market sentiment has significantly improved, despite ongoing macroeconomic uncertainties. On-chain activity data continues to heat up, reinforcing market expectations of Ethereum leading the next Altcoin rally.

Renowned analyst Mister Crypto noted that technical indicators are in a bullish alignment, and ETH may soon test key resistance levels. This rebound marks a strong reversal of the sideways consolidation in May-June, with the market accumulating momentum for a new upward move.

Korean Prosecutors Seize Cryptocurrencies Worth $3.2 Million in Illegal Foreign Exchange Investigation

Korean authorities seized cryptocurrencies worth 4.4 billion won ($3.2 million) during an investigation into unregistered foreign exchange transactions, including Ethereum. This crackdown targeted a criminal network allegedly assisting illegal currency transactions over six years, profiting through transaction fees.

Prosecutors accused the group of using online payment platforms to top up accounts with various currencies, circumventing financial regulations. This action highlights regulators' increasing focus on cryptocurrencies' role in cross-border financial crimes.

Tornado Cash Co-founder Refuses Hacker Donation, Returns ETH to Cork Protocol

Tornado Cash co-founder Roman Storm publicly refused a 10 ETH donation from hackers related to the Cork Protocol attack. This fund, worth approximately $24,000, was part of a $11 million theft transferred through Tornado Cash.

Storm announced on X that his legal fund would never accept such donations and immediately returned the ETH to Cork Protocol. Phil Fogel from Cork Protocol expressed gratitude and donated 1 ETH to Storm's legal defense fund in return.

This incident highlights the ongoing tension between privacy tools and their potential misuse in the crypto ecosystem. ETH remains central to this narrative, both as stolen assets and as a medium for these symbolic transactions.

Ethereum Breaks $2,500, Cryptocurrency Market Rises Broadly

Ethereum broke the $2,500 mark, rising nearly 2% in the past 24 hours. The world's second-largest cryptocurrency was priced at $2,500.96 on OKX exchange, reflecting renewed bullish sentiment in the digital asset market.

Market participants attribute this upward momentum to improved trader risk appetite and expectations of upcoming network upgrades. Ethereum's steady performance continues to support the Altcoin sector, with most mainstream tokens rising in sync.

Is ETH Worth Investing?

Based on BTCC analyst James's comprehensive assessment, ETH currently presents good investment value:

Combining technical and fundamental aspects, ETH offers investment value at current levels. Recommended strategies: 1) Short-term investors can wait for a correction to the 2,300-2,400 range; 2) Long-term investors can build positions in batches, with target prices above $2,800.