Artem Voloskovets
⬤ Ethereum's taking a breather after pushing higher earlier this week, now stuck in a well-defined trading range. The token swept its previous low, bounced back hard, and even managed to break market structure on the one-hour chart. But since then? Not much. The momentum's faded, and ETH's now just chopping sideways rather than continuing its climb.
⬤ Right now, Ethereum's bouncing between clear support and resistance zones. The daily low around $2,973 looks pretty weak, and while that initial bounce usually hints at more upside, the bigger picture still leans bearish. ETH just can't seem to follow through after that pump, and the repeated back-and-forth inside this range shows traders aren't exactly confident about what's next.
⬤ There are basically two scenarios traders are watching. For a long setup, ETH would need to sweep below that $2,973 daily low during a strong session and then convincingly reclaim it. If that happens, the next target would be resistance near $3,230. On the flip side, the short setup focuses on liquidity above the $3,050-$3,070 zone. If ETH sweeps above that area and then breaks structure, it would confirm the bearish bias, with the 15-minute chart providing extra confirmation.
⬤ This consolidation phase matters because Ethereum tends to move with the broader crypto market. After sharp moves like this, things usually get more volatile, but which way it breaks depends entirely on how price reacts at these nearby levels. With support looking shaky and resistance clearly marked, the next few sessions should tell us whether Ethereum's heading lower or gearing up for another push higher.
Artem Voloskovets
