Ethereum has pulled back to near $2.58K after testing above the $2.63K-$2.70K resistance zone and getting rejected. Holding above $2.35K-$2.40K keeps the structure constructive, but a confirmed break of resistance is needed to open the path toward $2.90K-$3K.
Ethereum trades near $2.58K after its latest rally carried the price back into a major supply area, where sellers have started to respond around the highs. The next reaction at this level could decide whether the advance turns into a larger breakout or slips into another consolidation phase.
Daily Chart Holds Above Key Support
Ethereum's daily structure has improved substantially since the explosive breakout from the $1.85K-$1.92K demand zone, a move that also reclaimed both major moving averages on the chart. Since then, the asset has consolidated above roughly $2.35K and pushed toward the $2.63K-$2.70K resistance zone, where the latest candles show rejection and a pullback toward $2.58K.
Therefore, the broader structure stays constructive while Ethereum holds above the $2.35K-$2.40K liquidity lows. A sustained daily breakout through $2.63K-$2.70K would strengthen the bullish case and could open the path toward the $2.90K-$3K resistance area. Conversely, continued rejection would raise the odds of a deeper correction, with $2.35K-$2.40K as first support, followed by $2.05K-$2.15K.
Four-Hour Chart Shows The Immediate Fight
The four-hour chart shows Ethereum surging from around $2.40K directly into the $2.63K-$2.70K zone, a level that also marks the upper boundary of the range that has contained price since late August. The rejection has pushed price back toward $2.58K, so buyers now need to prevent the pullback from turning into a larger reversal.
The first notable support sits at the $2.44K-$2.48K minor demand zone; holding it would preserve the sequence of higher lows and leave another attempt at $2.63K-$2.70K on the table. However, losing $2.44K-$2.48K would weaken the short-term setup and expose the range floor near $2.35K, with $2.22K-$2.27K as the next downside target.
Liquidation Map Points To Both Sides
The one-month Binance ETH/USDT liquidation heatmap shows substantial leveraged liquidity positioned on both sides of the current price, which could add to volatility. The nearest overhead concentration sits around $2.65K-$2.70K, matching the technical resistance being tested, while larger clusters sit near $2.9K-$3K and above $3.1K.
As a result, a convincing break through $2.70K could potentially trigger liquidations and help fuel an extension toward those higher levels. On the downside, a notable concentration appears around $2.3K-$2.35K, with the largest lower clusters near $1.9K-$2K.
Source: CryptoPotato
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