Key Insights:
- ETH trades between $2,100 support and $2,566 resistance as whale orders shape short-term direction price.
- Bearish bias holds after $2,108 weekly low, with shorts watched near $2,337 and $2,396 levels.
- Traders eye $2,150 for longs while waiting for structure breaks or liquidity sweeps ahead today.
Ethereum (ETH) was trading at $2,119.17 after falling over 3% in the last 24 hours. The decline marks a deeper slide, with a weekly drop of more than 29%. Volume remains high, showing active participation as price moves closer to key support levels.
Large orders in the market continue to shape price movement. Data shows a large cluster of sell orders at $2,566. Around 4,500 ETH are listed at that level, suggesting it could block upward moves unless cleared. On the buy side, a wall of around 6,200 ETH sits near $2,100. The earlier rebound from this level shows buyers are active, though price has started to return toward this area.
Traders Monitor $2,337 and $2,396 for Short Positions
LennaertSnyder shared his view on ETH, stating that the market recently bounced after making a new low at $2,108. He noted, “My bias remains bearish since almost all timeframes are in a confirmed downtrend.” He is tracking $2,337 as a level where he expects buy-side liquidity to be taken. If that happens, and short-term structure turns down, he plans to open short positions.
Source: LennaertSnyder/XHe also mentioned $2,396 as a second level to watch for the same setup. If price moves above this level but fails to hold, he expects further downside and would enter short positions. “Both my short targets are new weekly lows,” he explained.
A change in bias is possible if ETH moves above $2,396 and holds that level on higher timeframes. In that case, he plans to target $2,600 and beyond. Until that shift happens, the focus stays on shorting failed breakouts above known liquidity zones.
$2,150 Key Area for Long Trades
Thelordofentry posted a chart showing ETH breaking down from support and printing what he described as “hidden bearish divergence.” He said the market is “losing the bullzone,” pointing to weakness in momentum.
His strategy is to buy ETH near $2,150, a level that aligns with a 0.786 Fibonacci retracement. This area sits just above weekly support at $2,100, which ETH tapped before bouncing earlier. He marked this zone as his entry range for long positions and is waiting for price to return to it.
Source: Thelordofentry/XThe chart also shows volume and indicator signals confirming this level as a point of interest. No entry has been confirmed yet, but price is approaching the zone again.
ETH Stuck Between $2,100 and $2,566
Ethereum remains in a wide trading range, with strong buy interest near $2,100 and sell pressure stacked near $2,566. Price has failed to break out in either direction and now trades around the middle of this zone.
Traders are watching for short-term moves above $2,337 or $2,396 to trigger short setups. On the other side, some are preparing to buy if ETH dips back toward $2,150. No clear trend has developed, and the market remains reactive to key levels set by large orders.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Source: https://coincu.com/analysis/ethereum-whales-trap-price/
