Saad Ullah
⬤ Ethereum stayed locked in a tight consolidation zone on Thursday, with ETH/USD hovering just above $3,030 and showing little momentum. The market remains range-bound, and traders are focused on two key intraday levels for confirmation of the next direction. Price action has been moving between nearby support and resistance bands following a sharp drop earlier in the session.
⬤ The chart shows ETH/USD trading well below its recent peak near $3,110, with current movement clustering around the lower end of the range. A reclaim of $3,052 would signal a long opportunity, indicating Ethereum has regained short-term strength. On the flip side, rejection below $3,041 could trigger shorts and open the door for further downside. These price points mark horizontal levels that reinforce the technical importance of the current structure.
⬤ Ethereum continues trading between these boundaries while the broader market shows caution. Repeated tests of the same levels point to indecision, with neither buyers nor sellers taking clear control. ETH/USD has been rejected near mid-range resistance multiple times, while dips into the lower band haven't produced a breakdown yet. Market participants are sticking to a simple framework based on clean level confirmations rather than jumping ahead to anticipate breakouts.
⬤ Clearly defined ranges often lead to bigger directional moves, and these levels serve as early signals for momentum shifts in Ethereum. A confirmed reclaim could restore confidence in short-term upside, while a clean rejection may indicate slipping sentiment and expanding volatility. Until one of these signals appears, ETH/USD will likely maintain its constrained structure, requiring patience and disciplined level-based trading.
Saad Ullah
