On the 2-hour timeframe, Ethereum shows strong bullish momentum after a sharp rally from the $4,210 area to near $4,800. Currently, the price is consolidating inside a major supply zone (red area), indicating potential short-term selling pressure before any further upside movement.
🔴 Supply Zones (Resistance Levels)
The $4,700 – $4,816 range stands out as a key resistance area. This zone has historically attracted heavy sell orders, suggesting possible rejection or sideways movement in the short term.
If ETH manages to break and hold above $4,816, the next target could be around $4,900. However, failure to break this zone may trigger a corrective pullback.
🟢 Demand Zones (Support Levels)
The first major support lies between $4,450 and $4,500. This level previously acted as resistance and has now turned into support after a successful breakout.
If this zone fails to hold, the next support area is found between $4,280 and $4,210, which has shown multiple price reactions in the past.
A deeper correction could test the $3,950 – $4,000 zone — a strong long-term demand area that may attract significant buying interest.
📊 Overall Market Outlook
The overall structure remains bullish, but the current position inside a supply zone suggests possible short-term correction or consolidation.
As long as the price stays above $4,450, the mid-term outlook remains positive. Traders should closely watch how the price behaves around the $4,700–$4,800 area to identify signs of rejection or a confirmed breakout.
⚖️ Summary
- Main Resistance: $4,700 – $4,816
- First Support: $4,450 – $4,500
- Second Support: $4,280 – $4,210
- Market Bias: Bullish with potential short-term correction
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