- ETH keeps its position above $2,000 despite increased volatility and selling pressure in the market.
- The asset has formed a higher low, signaling probable strength for a move past the $2,300 resistance.
- Buyers continue supporting the $2,103 support zone while sellers limit ETH’s recovery near key resistance levels.
Ethereum is still oscillating between the $2,000 and $2,100 range despite fluctuations. This digital asset has been able to defend this range and keep the higher low on lower time frames. Experts have traced the chart to identify whether Ethereum has the potential to rise again and break the $2,300 level, which is also a critical level after a retracement to the supports earlier this week.
Ethereum’s Price Stability at $2,000-$2,100
ETH has invariably held above $2,000, a level that has acted as a key support zone. Despite fluctuations, the asset has not dropped below this threshold, suggesting strong demand within this range.
The market has seen significant movement, but Ethereum’s ability to maintain its footing within this level remains a critical factor. According to Daan Crypto Trades’ post on X, it is notable that Ethereum’s price is trading near a key support zone of around $2,103, with multiple retests in recent sessions.
The price recently dropped from the $2,800 resistance zone and is experiencing selling pressure. The market shows increased volatility with high-volume spikes. Buyers are attempting to defend support, but the trend remains bearish, with sellers maintaining control near the lower levels.
Higher Low Formation Signals Strength
On lower timeframes, Ethereum has recorded a higher low, indicating potential upward momentum. The price structure suggests that buyers have maintained control, preventing further downside pressure. If Ethereum sustains this pattern, it could set the stage for a breakout past the next resistance level.
For Ethereum to confirm bullish momentum, a break above $2,300 is necessary. This level represents an inefficiency in the price retracement from Monday’s decline. If buyers push past this threshold, Ethereum could enter a recovery phase, reducing the impact of recent pullbacks.
