ETH has been hovering around here since it pulled back to 2600 yesterday. The longer it hovers, the less favorable it is for ETH bulls. There is still significant pressure around 2800, and it will require the market makers to be willing to spend money to push through.

If it can't hold the 2600 level, the next support is around 2420. At the current position, whether going long or short, the odds are not favorable. Those with spot positions can consider taking some profits.