Eseandre Mordi
Ethereum is stabilizing after a recent pullback, holding a key support zone inside the Ichimoku cloud - a structure that often signals indecision before expansion. As Sky noted, ETH continues to respect the red baseline, with price action suggesting a potential move toward a higher resistance band in the coming sessions.
ETH Sits at $2,140 Inside the Ichimoku Cloud
On the daily chart, ETH is trading near $2,140-$2,150 after a minor pullback. Price is sitting within the Ichimoku cloud rather than clearly trending above or below it.
The red baseline (Kijun-sen) is acting as immediate support, and price has not broken below it on a closing basis. Candles are relatively small and overlapping, confirming consolidation rather than momentum. Neither buyers nor sellers have full control right now - this is a neutral phase, plain and simple.
Similar setups have played out before, where Ethereum consolidates below resistance before deciding direction. ETH has repeatedly struggled near the $2,150-$2,190 range, with breakout confirmation required to shift structure bullishly - for more context, see this Ethereum breakout setup analysis.
ETH Eyes $2,250-$2,300 Resistance Zone
The chart highlights a clearly marked resistance zone above price, roughly between $2,250 and $2,300. Sky calls this the "golden zone" that ETH may test in the coming days.
This area matters for three reasons: it aligns with prior rejection levels, it sits above the current cloud structure, and it represents the next real decision point for trend continuation. Recent price action shows ETH failing to hold higher highs, with subtle lower highs forming after the mid-month spike - a sign that bullish pressure is fading even as support holds.
Recent market behavior shows Ethereum reacting sharply to defined zones, with $2,120 acting as a critical reaction point for reversals or continuation.
Compression Between $2,100 and $2,300 Points to Expansion
The current structure is tightening fast:
- Support: ~$2,100-$2,140 (cloud + baseline)
- Resistance: ~$2,250-$2,300 (highlighted zone)
- Price: compressing between both
This kind of range compression typically leads to expansion. The key detail here is that ETH has not broken support despite multiple tests - buyers are still active and defending the zone.
However, the lack of strong upward momentum signals hesitation. If ETH pushes into the resistance zone, the reaction there will define the next phase - either continuation above the cloud or rejection back into range, as outlined in this Ethereum trend continuation scenario.
Ethereum is not trending right now - it's waiting. The structure remains intact, but momentum has clearly slowed. The next move won't be defined by where ETH is sitting today, but by how it reacts when it finally breaks out of this range.
Eseandre Mordi
