Ethereum is consolidating just below the key supply zone at $2,670, and this range is heating up fast! After the sharp rally earlier in May, ETH is showing clear exhaustion signs right where supply is thickest.
Chart Context (1H Timeframe - Coinbase):
Price is trapped below the $2,671.27 resistance, inside a visible supply zone (highlighted in blue).
Multiple lower highs forming, with momentum fading on each attempt to break higher.
Downside liquidity targets marked with red arrows show potential price magnets if we break structure.
Key Levels to Watch:
Immediate Resistance: $2,670 – Supply-heavy zone.
Local Support: $2,245 – If this cracks, watch for increased bearish pressure.
Bear Targets:
$1,822 – March consolidation demand zone.
$1,622 – Strong historical demand, previous breakout base.
Market Outlook:
If bulls fail to reclaim $2,670, a swift move toward $2,245 then $1,822 is very likely.
Heavy U.S. economic calendar ahead (see icons near May 27–29), which could trigger volatility.
What to Watch For:
Breakout & reclaim above $2,670 = bull continuation to $2,800+
Breakdown below $2,245 = high-probability short setup
Volume and candle structure near the top showing signs of distribution
Strategy Suggestions:
Scalpers: Short rejections near $2,670 with stops above the zone.
Swing Traders: Wait for a breakdown confirmation below $2,245.
Buyers: Watch the $1,822–$1,622 demand zone for potential long entries.
Let’s discuss in the comments: Do you expect a bullish breakout or a rug pull from here?
#Ethereum #ETHUSD #Crypto #PriceAction #SupplyDemand #ETHBulls #ETHBears #TechnicalAnalysis #TradingView #SwingTrading
Chart Context (1H Timeframe - Coinbase):
Price is trapped below the $2,671.27 resistance, inside a visible supply zone (highlighted in blue).
Multiple lower highs forming, with momentum fading on each attempt to break higher.
Downside liquidity targets marked with red arrows show potential price magnets if we break structure.
Key Levels to Watch:
Immediate Resistance: $2,670 – Supply-heavy zone.
Local Support: $2,245 – If this cracks, watch for increased bearish pressure.
Bear Targets:
$1,822 – March consolidation demand zone.
$1,622 – Strong historical demand, previous breakout base.
Market Outlook:
If bulls fail to reclaim $2,670, a swift move toward $2,245 then $1,822 is very likely.
Heavy U.S. economic calendar ahead (see icons near May 27–29), which could trigger volatility.
What to Watch For:
Breakout & reclaim above $2,670 = bull continuation to $2,800+
Breakdown below $2,245 = high-probability short setup
Volume and candle structure near the top showing signs of distribution
Strategy Suggestions:
Scalpers: Short rejections near $2,670 with stops above the zone.
Swing Traders: Wait for a breakdown confirmation below $2,245.
Buyers: Watch the $1,822–$1,622 demand zone for potential long entries.
Let’s discuss in the comments: Do you expect a bullish breakout or a rug pull from here?
#Ethereum #ETHUSD #Crypto #PriceAction #SupplyDemand #ETHBulls #ETHBears #TechnicalAnalysis #TradingView #SwingTrading
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