The price of Ethereum is currently trading slightly above $2.7K, facing resistance below a key supply zone. Ethereum temporarily halted its upward movement after rising from the support zone in the range of $1.85K–$1.92K. The rally marked a short-term move to $2.8K, but selling pressure within the resistance zone of $2.68K–$2.77K prevented further growth. At the same time, the price structure remains constructive. Ethereum continues to trade above the ascending trendline, and both moving averages have shown a bullish cross, with the yellow average crossing the orange around $2.1K. Although the Relative Strength Index (RSI) has decreased to 60, indicating a weakening momentum, it is still above the neutral level. A sustained breakout above the resistance level of $2.77K and the recent high at $2.8K could pave the way to the resistance zone of $2.9K–$3K. If rejection continues, it could lead to testing the demand zone in the range of $2.35K–$2.51K, where the ascending trendline will provide additional technical support. On the four-hour chart, it is visible that the price has repeatedly been rejected in the supply zone of $2.68K–$2.77K, while the ascending trendline supports gradually rising lows. At the moment, Ethereum is testing this trendline in the area of $2.65K–$2.66K after another unsuccessful attempt to hold in the resistance zone.
Holding this support could allow buyers to retest the resistance zone of $2.72K–$2.77K. However, for a convincing continuation of the upward trend, a sustained breakout through this resistance zone and recent highs around $2.8K is necessary. A break below the ascending trendline will weaken the bullish structure and shift focus to the support zone of $2.6K, and then to the previous low around $2.56K. If selling pressure intensifies, the demand zone in the range of $2.44K–$2.48K will become the next important area for buyers to defend. An analysis of liquidations on Binance shows significant clusters of liquidations on both sides of the current price. The most notable liquidation zone below is around $2.62K, with additional concentrations in the range of $2.55K–$2.6K. Above, a strong cluster is visible around $2.75K–$2.78K, as well as a broader concentration near $2.8K.
This placement puts Ethereum between two significant pools of liquidations. Losing the 4-hour ascending support could expose the cluster at $2.62K, where liquidations of long positions could amplify the decline. At the same time, reclaiming the resistance zone could lead to increased liquidity at the $2.75K–$2.8K mark and potentially accelerate growth through liquidations of short positions. Heatmap analysis does not determine which side will be reached first. However, the coincidence with technical levels suggests that exiting the current consolidation could trigger a sharp move when the borrowed position is closed.
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