Saad Ullah
⬤ Ethereum has been stuck in consolidation mode for the past several days, bouncing around between $2,700 and $3,400 without making any decisive moves. ETH is currently sitting near $3,042, up roughly 3% in the latest session after finding solid footing at the lower support level. The range-bound action shows the market taking a breather after previous volatility.
⬤ Traders are keeping a close eye on two critical zones. The $2,600-$2,700 area has been holding strong as demand, and ETH just bounced cleanly off this support. On the flip side, resistance is waiting around $3,400, with higher targets marked at $3,653, $4,251, and $4,752. If the current bounce continues gaining steam, ETH could retest that $3,400 ceiling or even push through it—but only if support at $2,600-$2,700 stays intact.
⬤ The price action makes the sideways trading crystal clear. ETH carved out a higher low in the green support zone between $2,619-$2,786 and is now climbing toward the red resistance band at $3,412-$3,653. This choppy movement mirrors what Bitcoin's been doing—both major cryptos are basically trading in place while the market figures out its next move.
⬤ This consolidation phase matters because it shows Ethereum stabilizing after earlier declines. The key question now is whether ETH can defend that $2,600-$2,700 support zone. Holding above it keeps the bullish case alive and sets up a potential run at $3,400. But if that support cracks, the outlook shifts and could send ripples across the broader crypto market.
Saad Ullah
