Saad Ullah
⬤ Ethereum keeps coming back to the $2,800 zone, proving just how important this level has become during the current cycle. The price has bounced off it from both directions so many times that it's become impossible to ignore. Looking at the price action, ETH has repeatedly paused, turned around, or found stability right around this $2.8K mark across different phases, making it more than just another technical line on the chart.
⬤ The pattern is pretty clear: Ethereum struggles to hold gains after dropping below $2,800, while pullbacks often stop their slide around the same spot. This constant back-and-forth shows that traders are treating this level as a major decision point. Every time ETH approaches $2.8K, the market seems to hold its breath.
⬤ Right now, ETH is hovering just above this threshold after getting rejected somewhere between $3,300 and $3,500. Meanwhile, attempts to push lower keep getting bought up before any real damage happens. The level has flipped between support and resistance so many times that it's basically become the anchor for Ethereum's entire price structure.
⬤ Why this matters beyond just ETH: Ethereum often sets the tone for the broader crypto market outside of Bitcoin. When a major asset like ETH spends this much time dancing around such a historically loaded price point, it affects how traders feel about the whole space. However Ethereum finally breaks away from $2,800 could end up shaping where the rest of the market heads next.
Saad Ullah
