Ethereum, or 1 ETH, traded at $2,544.29 as of 8 a.m. ET. The highest intraday price the cryptocurrency reached in the past year was $4,088.00 on March 12, 2024. *The return comparisons are as of 8 a.m. ET.

Ethereum (ETH) is trading in the red on Friday, nearing its daily support level of $2,461; a close below this level could signal further declines. This bearish outlook is further supported by the Coinbase Premium Index being below neutral and a long-to-short ratio under one, indicating falling demand, and more traders anticipating falling prices.

Ethereum, often considered the beacon of crypto adoption after Bitcoin, has been the backbone of the decentralised finance (DeFi) revolution. It has been the engine powering a vast array of smart contracts and decentralised applications (dApps).

Ethereum (ETH) outperformed Bitcoin (BTC) last week. Ethereum trades below the $2,900 resistance area. Can Ethereum increase toward this resistance and break out? It is