Ethereum Price Consolidation Hits Key Support Zone
Ethereum's price action has been consolidating within a defined range, with the cryptocurrency trading at $2,726, showing a modest daily gain and positioning itself above its key moving averages.
The Ethereum Foundation has introduced zkAPI, a privacy-focused payments platform enabling anonymous ETH and USDC transactions for API services on the Ethereum mainnet.
This initiative forms part of the Open Anonymity Project and expands Ethereum's role as a utility layer for confidential digital infrastructure.
According to technical indicators, ETH remains above the MA-20 and MA-50 on the H1 timeframe, while comfortably exceeding the MA-200 on the daily chart.
The Ichimoku Kijun at $2,715 provides immediate support, and indicator readings show MACD and ADX in strong buy territory, with RSI at 60.04 and CCI also confirming a buy setup.
Over the next 2 to 3 trading days, ETH is expected to trade within a range of $2,698 to $2,755, consistent with typical volatility at these levels.