#Ethereum is currently undergoing a sharp 2H pullback after failing to hold the $2,760–$2,780 region. Price accelerated lower from the highs and is now trading around $2,660, bringing the next major demand area into focus.
The chart clearly marks $2,570–$2,590 as the important support zone. This area was the base for the previous expansion, making it a logical place to watch for buyers if the correction continues.
A controlled decline into this zone followed by a strong bullish reaction would preserve the possibility of another recovery. In that scenario, ETH would first need to reclaim $2,660, then $2,700, before challenging the $2,760–$2,780 resistance again.
The chart projection also suggests a potential move into demand before another upside attempt.
However, the setup changes if ETH loses $2,570 with strong momentum. That would indicate that the demand zone failed and could lead to a deeper retracement.
ETH has recently traded through a wide range, including a move above $2,800 earlier this week, so volatility remains an important factor.
The immediate battle is not at $2,780 anymore, it is whether $2,570–$2,590 can absorb the pullback.
$ETH
The chart clearly marks $2,570–$2,590 as the important support zone. This area was the base for the previous expansion, making it a logical place to watch for buyers if the correction continues.
A controlled decline into this zone followed by a strong bullish reaction would preserve the possibility of another recovery. In that scenario, ETH would first need to reclaim $2,660, then $2,700, before challenging the $2,760–$2,780 resistance again.
The chart projection also suggests a potential move into demand before another upside attempt.
However, the setup changes if ETH loses $2,570 with strong momentum. That would indicate that the demand zone failed and could lead to a deeper retracement.
ETH has recently traded through a wide range, including a move above $2,800 earlier this week, so volatility remains an important factor.
The immediate battle is not at $2,780 anymore, it is whether $2,570–$2,590 can absorb the pullback.
$ETH
