Peter Smith
⬤Ethereum is struggling to hold ground as it trades below a defined resistance zone between $2,157 and $2,222. The recent bounce from the latest low lacks conviction, with price hovering near $2,130 and failing to close above the key Fibonacci cluster overhead. No confirmed bottom is in place yet, and the broader structure remains corrective.
⬤The $2,157-$2,222 zone has repeatedly rejected advances, aligning with widely watched Fibonacci retracement levels. As covered in Ethereum Holds $2,000 Support, Eyes $2,400 Break, the $2,200-$2,400 range represents a critical barrier for any bullish continuation. Until ETH reclaims this zone, the trend stays weak.
⬤On the downside, support is mapped between $2,078 and $2,001, matching deeper Fibonacci levels. According to Ethereum Faces $2,080 Resistance as Downside Liquidity Lures Action, liquidity continues to build below current price, keeping the risk of further decline alive as long as resistance holds.
⬤As outlined in Ethereum Needs a $2,057 Break to Confirm Bottom, reclaiming resistance is a prerequisite before any reversal can be confirmed. For now, ETH reflects broader crypto market conditions - consolidation and hesitation define the near-term outlook, with a decisive close above $2,222 needed to shift the bias bullish.
Peter Smith
