#ETH Ethereum Price Range Narrows - Liquidity Approaches $2,800 and $2,350

Ethereum is facing a critical moment as it struggles to reclaim the $2,600 level, attempting to break free from weeks of consolidation. Since early May, ETH has been trading within a narrow range and is currently testing the upper limit of its consolidation range, a trend that may signal the second-largest cryptocurrency, ETH, entering a new bullish phase.

Market participants are closely monitoring this level, as a successful breakout above $2,600 could attract momentum buyers and confirm that the entire altcoin space will strengthen again. However, the breakout is not guaranteed. If the bulls fail to maintain this trend, Ethereum may face new selling pressure, and the price could re-test lower support levels.

According to Coinglass data, liquidity clusters are clearly defined at $2,800 and $2,350. In the coming days, these two levels may act like magnets, depending on how Ethereum responds to the current resistance.

ETH has two key liquidity levels: upward at $2,800 and downward at $2,350. These two areas represent the most likely price moves in the short term, depending on which area breaks first. If ETH strongly breaks above $2,800, it could trigger a new risk appetite and lead to a full rebound in altcoins. On the other hand, a drop below $2,350 could lead to a significant price correction.

So far, the bulls have maintained the $2,500 level, and the continuous increase in open interest indicates that investors are preparing for price expansion. Regardless of the direction, a decisive breakout for Ethereum will break weeks of consolidation and determine the short-term trend. Until then, Ethereum remains the gatekeeper of altcoin momentum - its next move could determine the direction of the entire market.

ETH Testing Resistance in Range Fluctuation Structure

Ethereum's current trading price is $2,563, hovering just below the $2,600 level, which has acted as short-term resistance throughout June and early July. As shown in the 12-hour chart, ETH has been in a horizontal consolidation structure between $2,400 and $2,700, with multiple attempts to break either side ending in failure.

Market participants are waiting for a clear breakout before firmly entering the market.