After strong upward movement that surpassed 70% in the third quarter, $ETH is currently entering a high-level consolidation near $2,715. Price has been locked in a tug-of-war around the $2,700 integer mark—both digesting the prior phase of sustained rallies and serving as an important line of defense for bulls and bears at the quarter-switching node.
From the perspective of market structure, the $2,700 area has shifted from being a breakthrough resistance in the earlier period to the current benchmark support. After an entire quarter of independent strength, the profit-taking positions accumulated on the chart have become particularly sensitive at the current price. The key is whether this zone can continue to absorb the selling pressure of floating positions. Bulls can only keep the line firmly and create an opportunity to push the oscillation range higher. If the absorption momentum shows signs of exhaustion, then one must watch out for intensified volatility caused by a period of pullback.
The historical rhythm also provides a reference for the chart. In October of past years, the average rise has been about 3.29%, while the median has narrowed to around 0.36%, indicating a clear “building energy” characteristic. Whether the current market can evolve from consolidation at high levels into a new round of trend still depends on whether trading volume can remain solidly expanded above $2,700, and whether overall market vitality can provide a firm backing for the current valuation center.
From the perspective of market structure, the $2,700 area has shifted from being a breakthrough resistance in the earlier period to the current benchmark support. After an entire quarter of independent strength, the profit-taking positions accumulated on the chart have become particularly sensitive at the current price. The key is whether this zone can continue to absorb the selling pressure of floating positions. Bulls can only keep the line firmly and create an opportunity to push the oscillation range higher. If the absorption momentum shows signs of exhaustion, then one must watch out for intensified volatility caused by a period of pullback.
The historical rhythm also provides a reference for the chart. In October of past years, the average rise has been about 3.29%, while the median has narrowed to around 0.36%, indicating a clear “building energy” characteristic. Whether the current market can evolve from consolidation at high levels into a new round of trend still depends on whether trading volume can remain solidly expanded above $2,700, and whether overall market vitality can provide a firm backing for the current valuation center.