By examining the Ethereum chart on the weekly (logarithmic) timeframe, we can see that after rising to 2,880, the price faced selling pressure and corrected down to 2,500.
This upward move created a large Fair Value Gap (FVG) between 1,870 and 2,300, which is likely to be filled in the medium term if the price drops further.
However, as long as Ethereum continues trading above the 2,300 level and does not close below it, we can still expect further bullish movement.
The large Fair Value Gap (FVG) between 1,870 and 2,300 suggests a potential imbalance in price action that the market may revisit in the medium term. This FVG was formed during a strong bullish move, which typically attracts price back into the gap before continuing higher.
However, the key level to watch is 2,300. As long as ETH holds above this zone and no weekly candle closes below it, bullish momentum remains valid. A close below 2,300 would signal a shift in structure and increase the probability of a deeper retracement into the FVG zone.
🧠 Bias: Neutral-to-Bullish while above 2,300
❌ Invalidation: Weekly close below 2,300
🎯 Key Levels:
Resistance: 2,880
Support: 2,500 → 2,300 → FVG zone (2,300-1870)
Trade at your own Risk 👍
Best Regards, Trade Cryptocurrency
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