Chart timeframe: 6H | Exchange: Binance
Price at post: $1,804
Ethereum is currently consolidating inside a major demand zone between $1,536 – $1,850, where we’ve seen multiple strong rejections to the downside. This orange zone represents a key institutional accumulation range. Price has tested this area multiple times, building a strong base of support.
Key Technical Highlights:
Demand Zone (Highlighted in Orange): ETH has respected this zone since April, showing accumulation by smart money.
Supply Zone (Blue Zone): Major resistance starts around $2,637, with peak volume interest visible up to $3,557 – a key profit-taking zone if the bullish breakout occurs.
Visible Range Volume Profile: Clearly shows heavy past activity in the upper blue zone. If ETH reclaims $2,000+, expect volume-driven momentum into $2,637 and potentially $3,557.
Bullish Structure Potential: The pattern is forming a potential Wyckoff Accumulation, with Spring & Test around $1,536. Watch for a breakout above $2,000 to confirm a bullish trend reversal.
Short-Term Plan:
Bullish Confirmation Above: $2,000 – look for breakout volume and candle close on the 6H/1D timeframe.
Targets: $2,637 (first take profit), $3,557 (major supply zone).
Invalidation: Break and close below $1,500.
Outlook:
Ethereum looks poised for a significant breakout if the current range holds. Watch for bullish confirmation above key levels, especially as volume begins to rise. The current consolidation might be the calm before a powerful move – don’t miss it.
Do you think ETH will break out or break down? Comment your bias below!
If you found this helpful, like and follow for more smart money breakdowns.
#ETHUSD #Ethereum #CryptoTrading #SmartMoney #SupplyAndDemand