Technical analysis of ETH/USDT on June 17, 2025

I. Overview

ETH experienced a strong decline through the $2,600 area at the beginning of the session on June 17, then quickly recovered to around $2,620 but faced selling pressure again. As of now, the price is fluctuating in a narrow range of $2,540 – $2,600 with liquidity clearly distributed at both ends.

The current price structure is of short-term accumulation, with no clear signs of a trend reversal. It is noteworthy that the price has reached areas with dense liquidity – places that typically create strong reactions due to a large concentration of liquidation orders.

II. "Magnet" liquidity zones

1. Strong support: $2,515 – $2,540

This is the area that was recently breached and then the price bounced back strongly. There is clearly hidden buying pressure below, preventing the price from breaking down further. This is also the area where many long orders have liquidation points, so the price will face upward pressure when approaching. If breached again, the "long squeeze" effect could push ETH down to $2,470 – $2,450.

III. Trading scenarios

✳️ Scenario 1: Long from support

Entry: $2,490 – $2,515

Stop loss: $2,450 (deep breach of support below)

Take profit: $2,600 – $2,675 – $2,720

This is a trend-following strategy reacting to support. The area $2,520 – $2,540 may be retested to create a higher low.

✳️ Scenario 2: Short from strong resistance with significant volume (if not standing aside)

Entry: $2,690 – $2,725

Stop loss: $2,750 (to avoid being swept by a short squeeze)

Take profit: $2,620 – $2,580 – $2,540

$ETH #BTC