Sergey Diakov
⬤ Ethereum (ETH) made another run at $2,000 and got turned away, slipping back into the $1,98x range after a sharp drop and rebound that didn't stick. According to analyst Ted, selling pressure on Binance has stabilized — a constructive sign — but the market still needs a clean reclaim of $2,000 backed by real spot demand before bulls can make a case for continuation. ETH remains in a recovery attempt that has not yet cleared the key pivot, similar to conditions seen when bears held ETH below the $2,001 area.
⬤ The chart maps out the key levels worth watching. Overhead resistance sits near $2,097, with higher bands at $2,400 and $2,624. To the downside, support zones are marked near $1,874 and a broader band around $1,693 — the levels that come into play if volatility picks back up.
Selling pressure on Binance has stabilized — but ETH still needs spot demand to reclaim $2,000.
⬤ The core message is simple: stabilizing sell pressure isn't the same as buying strength. Without spot demand stepping in, any bounce stays corrective. This mirrors the pattern seen when former support near $2,100 flipped into resistance, sending ETH back toward lower levels after a failed reclaim attempt.
⬤ The $2,000 level is a sentiment divider. Every failed reclaim keeps ETH in a fragile, range-bound state. That's been the recurring theme — even short-term stabilization hasn't been enough when the market lacked clear bottom confirmation. A sustained move back above $2,000 with visible spot demand would shift the picture — but until that happens, the focus stays on the $1,874 and $1,693 support zones below.
Sergey Diakov
