- Ethereum broke recent highs and nears daily resistance.
- $2,650 is a crucial level for potential long positions.
- Momentum remains bullish despite minor corrections.
Ethereum ($ETH) continues to show impressive strength in the market. After breaking recent highs (RHs), the price is now encountering some resistance at a daily support/resistance (S/R) level. According to market observers, this resistance is not expected to hold for long.
Technical traders believe the bullish structure is intact, and Ethereum could push higher once this resistance level is cleared. The momentum remains in favor of the bulls, and the recent breakout signals continued interest in Ethereum by both retail and institutional investors.
$2,650 Identified as a Key Accumulation Zone
While Ethereum pushes upward, analysts are watching for short-term (LTF) corrections. These pullbacks, particularly into the imbalance zone around $2,650, are viewed as opportunities to accumulate long positions.
An “imbalance” refers to areas on the chart where price moved quickly without much trading, leaving gaps that markets often revisit. If Ethereum dips into this zone, it may offer a favorable entry for traders betting on further upside.
Strong Structure Suggests Higher Targets Ahead
Despite some short-term resistance, Ethereum’s market structure continues to show strength. The series of higher highs and higher lows points to a bullish trend.
If Ethereum successfully breaks through the current daily resistance, the next leg up could bring even stronger gains. This is encouraging news for long-term holders and traders alike who are looking for solid confirmation of a continued uptrend.
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