Usman Salis
⬤ Ethereum picked up momentum this week as it tried to stabilize after an extended pullback. ETH has printed a low, a high, a higher low, and a higher high on the 4-hour timeframe, which suggests the early stages of a reversal might be underway. Price is currently trading near $2,808 while approaching the previously rejected $2,880 resistance zone.
⬤ The $2,880 region is the immediate level everyone's watching right now. If Ethereum fails to break above this zone, it could trigger short setups targeting lower support levels. But if ETH manages to reclaim $2,880 with real strength, the next bullish target sits near the $3,200 resistance area. The current structure shows a cautious but improving outlook, though the trend remains fragile as ETH trades right below resistance.
⬤ There's also a significant daily demand zone near $2,580 that hasn't been tapped yet. This area is considered important for potential long entries if we see a deeper pullback. Until price confirms a move above $2,880, traders are focused on short-term reactions at these key levels, with ETH bouncing between early reversal signals and ongoing downside risk.
⬤ These levels matter because they represent major areas of market interest that could dictate short-term momentum. A clean breakout above resistance might reinforce confidence in a renewed rally, while another rejection risks dragging out the current consolidation and keeping volatility high.
Usman Salis
