Ethereum Price Breakout Hinges on Close Above $2,535

Ethereum's price has been stuck around $2,500 for several days as buyers and sellers compete around the psychological level.

The asset has struggled to break above $2,535 due to weakening momentum and negative capital flows, which have kept a breakout out of reach.

According to Jules, a market analyst, the key short-term pivot is between $2,478-$2,485, and repeated rebounds from this area show active demand.

However, if Ethereum loses this pivot, it could weaken the setup and bring $2,435-$2,445 back into play.