Hot Features
Premium
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
ETHUSD faces likely retracement after hitting the key resistance zone at $2860. Ethereum recently breached a prior high and swept the buy-side liquidity around $2,740, tagged within a marked order block zone. This key resistance aligns with the order block zone stretching from about $2,740 to $2,860. The bullish structure has been intact since the breakout above the descending trendline in April, but the current structure suggests a possible exhaustion as price consolidates below resistance. A liquidity void is clearly identified between the $2,550 and $2,320 zones, indicating a clean inefficiency that price might seek to rebalance.
Given these signals, ETHUSD is likely to face a short-term pullback, potentially targeting the $2,550 support level initially. If bearish momentum increases, price could fill the liquidity void and descend further toward $2,320, where previous consolidation and demand exist. This retracement may be brief, as the broader structure remains bullish, and buyers may re-enter the market at these discounted levels. A rebound from $2,320 could set the stage for a renewed push toward $2,860 and possibly $3,530 in the medium term, but in the immediate future, a downside correction appears more probable.
ETH Key Levels
Supply Levels: $2860, $4110, $4870
Demand Levels: $2150, $1530, $1250
What are the indicators saying?
The Relative Strength Index (RSI) currently sits around 71, suggesting that ETHUSD is in overbought territory and may face selling pressure soon. While the 9-day Simple Moving Average (SMA) at approximately $2,610 continues to slope upward, showing underlying bullish momentum, the price is significantly extended above this moving average. This gap often signals a potential mean reversion, especially when paired with overbought RSI conditions.
Learn from market wizards: Books to take your trading to the next level
