Usman Salis
⬤ Ethereum continues to hover near short-term support, showing another bounce from what traders call a micro support zone. The latest reaction stopped ETH from breaking lower, but the market hasn't generated the sustained strength needed for a confirmed breakout. At the most recent update, ETH was trading close to $2,980, just below the psychological $3,000 resistance level.
⬤ The technical picture suggests ETH keeps respecting the lower boundary of its short-term range, with repeated rebounds showing buyers are defending support. But upside momentum remains too weak to confirm any bullish resolution. That leaves Ethereum stuck inside its current range, bouncing between support and overhead resistance. Each time the price touches support it reacts positively, but every advance fades before clearing the resistance layers above.
⬤ As one of the most actively traded crypto assets, even small ETH price moves draw market-wide attention. Respecting micro support looks encouraging short-term, though uncertainty lingers while the price stays beneath resistance. A more decisive move higher would be needed before ETH could be considered to have broken out. Until then, traders are watching whether support continues to hold or broader consolidation takes shape.
⬤ This setup matters because how ETH behaves around short-term support zones influences broader sentiment. Continued defense of the micro support maintains the current structure, but without strong upside momentum ETH remains in neutral territory. A confirmed breakout would signal renewed confidence, while support failure could shift near-term expectations. For now, Ethereum stays range-bound as traders watch to see whether resilience or weakness wins out.
Usman Salis
