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Ethereum closed between $ 2,650 and $ 2,750 last week, creating short -term uncertainty. Price action remains undecided while the bulls struggle to recover the level of $ 2,800, a key supply area that could determine the next Ethereum move. While long -term perspectives remain uncertain, Ethereum is exchanging at crucial demand levels, facing continuous sales pressure that has maintained the price action silent.
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Investors are trying to keep calm in the midst of volatility, but fear is spreading while Ethereum shows signs of weakness compared to Bitcoin. Some analysts fear that if Eth cannot hold over $ 2,600, it could follow a deeper correction. However, others remain optimistic, suggesting that ETH could form a long -term bullish structure.
The cryptocurrency analyst Jelle shared a technical analysis on X revealing that ETH is still exchanged within a multi -year ascending triangle, a formation that historically reported a strong potential for a breakout. If Eth can retain the current levels and exceed the sign of $ 2,800, it could trigger a recovery towards the key resistance of $ 3,000. For now, all eyes are on Ethereum’s next move, since the next few days could be decisive in modeling its short -term trajectory.
Ethereum tests of crucial liquidity liquidity levels
Ethereum is currently exchanged among the key supply and demand liquidity levels in the short term, with an action of the prices trapped in a limited interval. Last week, Eth closed between $ 2,650 and $ 2,750, creating uncertainty about its short -term direction. Investors remain divided, with some waiting for a further correction and the extended consolidation phase, while others soon anticipate a recovery rally. The market is awaiting a breakout confirmation or breakage to determine the next trend.
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Ethereum is trying to push the sign of $ 2,700 on top and hold it as a support, which would be the first sign of upward momentum. However, for a confirmed recovery phase, ETH must recover the levels of $ 2,800 and $ 3,000. These areas of key resistance have acted as strong supply areas in the past and will probably give the next important move of Ethereum. If Eth cannot recover these levels, a deeper correction could take place in a lower demand around the sign of $ 2,500.
Jelle on X’s analysis reveals that Eth is still exchanging a huge ascending triangle, a multi -year bullish model. He noticed that fakes occurred both on the positive side and on the downside of the medal, eliminating liquidity in both directions. With the downward liquidity now taken, Jelle soon expects a return, suggesting that Eth could soon try to recover the lost ground.
If Ethereum manages to break above the sign of $ 2,800 and support his momentum, a move towards the level of $ 3,000 would be the next goal. However, if the sales pressure continues to dominate the market, ETH could remain in a consolidation phase or even experiment with a further disadvantage. The next few days will be crucial to determine if ETH can regain upward momentum or if a deeper correction is in the lead.
The action of the price lacks short -term direction
Ethereum is exchanged at $ 2,720 after days of lateral movement below the sign of $ 2,800, fighting to earn impetus for a breakout. Bulls must intensify and push the price above this level as soon as possible to move the feeling and claim the control of the price action. The $ 2,800 sign acted as a strong supply area and break above would open the door for a crossing at the level of $ 3,000.
On the negative side, defending $ 2,700 and even the level of $ 2,600 is crucial to maintaining the upward momentum. If ETH holds these levels for a prolonged period, it would signal a strong question and support the possibility of a recovery rally. A prolonged move above $ 2,700 would encourage buyers to intervene, increasing the chances of repeating the highest resistance areas.
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However, failure to comply with $ 2,700 could display Ethereum at further sales pressure. If ETH drops below the level of $ 2,600, it could follow a deeper correction in areas of demand about $ 2,500. The next few days will be decisive in determining whether Ethereum can establish a solid base for a bullish reversal or if the bears will continue to dominate the action of prices.
First floor image from Dall-E, TradingView chart