Ethereum trades near $1,929 support and $2,107 resistance as traders watch for a liquidity sweep after the weekend sell-off.
Ethereum traded higher after a sharp weekend decline, and traders are monitoring key liquidity levels across the chart.
The focus remains on whether price will sweep the $1,929 low before attempting a broader recovery toward range resistance.
Weekend Range Defines Market Structure
Ethereum printed a weekend low near $1,929 and a weekend high close to $2,107. These levels formed during thinner liquidity conditions, which can create weak pivots.
Traders are using this range as the main short-term structure for the week.
On the higher time frame, the broader trend remains down. The market continues to print lower highs and lower lows on larger charts.
Because of this structure, short setups remain valid if price reacts lower at resistance.
Early week price action shows attempts to stabilize above the weekend low. However, weak lows often attract stop orders resting below support.
Market participants are watching to see whether those stops are taken before any sustained move higher develops.
Key $1,929 Sweep and $2,107 Resistance in Focus
Several traders are waiting for a sweep of the $1,946 and $1,929 lows before considering long positions.
These areas are viewed as liquidity pools beneath recent price action. A temporary break below them could clear stops and shift short-term positioning.
If such a sweep occurs and price quickly reclaims the level, traders may target a move back toward $2,107.
That level marks the weekend high and serves as the upper boundary of the current range. A reaction there would help define the next directional move.
If price instead rallies without sweeping the lows, attention shifts to resistance. A test of $2,107 following a market structure break could present short setups.
Traders would look for signs of rejection in line with the prevailing downtrend.
Related Reading: OG Whale Opens $39.4M Ethereum Short With 20x Leverage
Intraday Liquidity and Holiday Conditions
On the lower time frame, liquidity is visible around $2,015 on the hourly chart. This level may act as a reaction point during intraday trading.
Acceptance above it could support continuation, while rejection may offer short-term opportunities.
Market participation may remain reduced due to the bank holiday. Lower trading volume can affect volatility and order flow.
Some traders have indicated they will wait for normal liquidity conditions before opening new positions.
The broader plan remains unchanged unless key levels are invalidated. Traders continue to treat the market as range-bound between $1,929 and $2,107.
Future direction is likely to depend on how price reacts at these defined liquidity zones.
Source: https://www.livebitcoinnews.com/ethereum-after-the-dump-key-1929-sweep-to-watch/
