Victoria Bazir
Ethereum (ETH) is approaching one of this year's most important support levels, and traders are paying close attention. A combination of technical indicators—including an unfilled fair value gap, Fibonacci retracement levels, and a well-defined bullish order block—makes the next price movement particularly meaningful. With ETH trading just above multi-week support structure, we're potentially watching a moment that could shape its trajectory for months to come.
Ethereum Nears Major Technical Crossroads
Right now, Ethereum's price action centers around the unfilled $2,875 fair value gap—a zone that hasn't been tested since ETH's previous rally. This level represents a natural target for price to revisit and potentially bounce from. The setup suggests this could be a structural turning point that decides whether ETH continues climbing or enters a longer correction phase.
Currently trading around $3,197, ETH sits just above the 0.382 Fibonacci retracement level at $3,048, showing that a correction from the $4,058 peak is already underway.
Breaking Down the Technical Picture
Support and Resistance Zones
After pulling back from $4,058, ETH has established several key support clusters:
- $3,048 (0.382 Fib level, currently holding)
- $2,875 (unfilled fair value gap—the make-or-break zone)
- $2,106 (nearly filled gap zone, representing deeper support)
On the upside, $4,960 marks the next major extension target if bulls regain control.
The Bullish Order Block at $2,250–$2,620
Below the $2,875 gap sits a substantial bullish order block spanning $2,250 to $2,620. This zone aligns with the 0.5 to 0.618 retracement levels—historically strong areas during healthy corrections. If ETH loses the $2,875 support, this becomes the preferred accumulation region before any potential continuation higher.
Bigger Picture Trend
The longer-term structure remains bullish. ETH recovered strongly from $1,577 (the 0.618 Fib retracement), reclaimed key structure, and rallied past $4,000. As long as price stays above $2,106, the overall bullish outlook stays intact. What we're seeing now is a corrective pullback within an ongoing uptrend.
What's Behind This Setup?
Several factors explain why these levels matter:
- Institutional money keeps flowing in through staking products and investment vehicles
- Growing staking participation reduces available supply, creating pressure during pullbacks
- Layer-2 networks like Arbitrum, Optimism, and Base maintain strong activity, indirectly boosting ETH demand
- Improving macro liquidity conditions support risk assets, including major cryptocurrencies
These dynamics explain why deep demand zones remain relevant and why ETH maintains its broader upward trend despite short-term corrections.
What to Watch For
If ETH holds the $2,875 fair value gap, we could see a recovery toward $4,960, followed by a push into the $5,000+ range. A sustained rally might eventually open the door to targets between $8,000 and $10,000 under favorable conditions.
If bulls can't defend $2,875, the $2,250–$2,620 order block becomes the primary zone where buyers are expected to step in before any major move to new highs.
Victoria Bazir
