Ethereum Forms Higher Low at $3,100 After $2,000s Demand Zone Bounce

⬤ ETH just showed some real backbone after bouncing hard from a major demand zone on the daily chart. After sliding down from earlier highs, Ethereum finally caught a break in that lower price region—what traders are calling a generational demand area. Selling dried up there, buyers stepped in, and boom—price stabilized and started climbing back. That kind of reaction tells you something shifted, and the structure's looking better than it has in a while.

⬤ What we're seeing now is ETH carving out a higher low after that bounce, which is actually a big deal after all those lower lows during the downtrend. From the demand zone sitting near the high-$2,000s, Ethereum pushed back over $3,000 and is now chilling around $3,100. Volume spiked during that initial recovery too, so this wasn't just some weak relief rally—people were actually buying. Compared to Bitcoin, ETH's looking structurally stronger right now, having reclaimed important ground while staying above recent lows.

⬤ But let's be real—ETH's still got a ceiling. There's a supply zone hanging around the mid-$3,300 to $3,500 range where previous rallies ran out of steam. Right now, price is compressing below that zone with tighter candles and lower volatility as the market digests the move. This kind of consolidation usually follows a strong bounce from demand and shows the market's finding balance rather than rolling over again. Breaking back into the mid-range would confirm the trend's actually healing, but we're not there yet.

⬤ This matters for the broader crypto market because Ethereum often sets the tone beyond just Bitcoin. When ETH holds higher lows and buyers keep defending dips, it builds confidence that the downside pressure's being absorbed. That said, the unresolved resistance overhead means the near-term direction's still up in the air. For now, ETH's in a healthy consolidation phase—price action suggests things have stabilized after a nasty correction, but the market's waiting for clearer confirmation before making the next move.