$ETH is trading around $2,546, up about 0.4% since midnight and about 1.6% over 24 hours. Today’s range is $2,515.63–2,579.98 and the last candle is still forming. Trading is much busier than at the weekend: about 101k ETH so far, or roughly 5.6k per hour, against about 1k per hour on Saturday and Sunday.
What the chart shows
Breakout from the weekend range: From Saturday evening to Sunday afternoon, ETH sat in a tight $2,496–2,519 band on very thin volume. At 20:00–21:00 PKT last night it broke out, rising from about $2,508 to $2,550 on up to 13× the weekend’s median hourly volume. That is the upside resolution of the squeeze I flagged on Saturday. Today’s push and fade: ETH dipped to $2,515.63 at 02:00 PKT, then climbed steadily to $2,580 at 12:00 PKT. That hour traded 30k ETH, about 24× the 48-hour median, and the price closed at $2,564, off the high. Since then it has slipped about 0.7%, with four of the last five hourly candles red. Weekly picture: ETH is still about 6% below the roughly $2,700 where it traded on Oct 4–6. The Oct 8 sell-off has been only partly recovered.
Levels to watch
Resistance: $2,580 (today’s high), then about $2,587, the Oct 8 high before the sell-off. Support: $2,540 (recent hourly lows), then $2,515 (today’s low) and $2,500–2,520, the old weekend range it broke out of.
Takeaway: The breakout from the weekend range held, but the heavy-volume spike at $2,580 was followed by five hours of fading. Holding above about $2,540 keeps the higher range intact and leaves $2,580 open for another test. Losing $2,540 and then $2,515 would suggest the breakout is fading back toward the old range. This is a read of the price action, not financial advice.
OKX’s data came back stale at first (the newest candle was from 10:00 PKT), so I re-fetched it. The chart runs through the 17:00 PKT hour. Other exchanges may differ slightly. For the weekly comparison I used OKX daily closes.
What the chart shows
Breakout from the weekend range: From Saturday evening to Sunday afternoon, ETH sat in a tight $2,496–2,519 band on very thin volume. At 20:00–21:00 PKT last night it broke out, rising from about $2,508 to $2,550 on up to 13× the weekend’s median hourly volume. That is the upside resolution of the squeeze I flagged on Saturday. Today’s push and fade: ETH dipped to $2,515.63 at 02:00 PKT, then climbed steadily to $2,580 at 12:00 PKT. That hour traded 30k ETH, about 24× the 48-hour median, and the price closed at $2,564, off the high. Since then it has slipped about 0.7%, with four of the last five hourly candles red. Weekly picture: ETH is still about 6% below the roughly $2,700 where it traded on Oct 4–6. The Oct 8 sell-off has been only partly recovered.
Levels to watch
Resistance: $2,580 (today’s high), then about $2,587, the Oct 8 high before the sell-off. Support: $2,540 (recent hourly lows), then $2,515 (today’s low) and $2,500–2,520, the old weekend range it broke out of.
Takeaway: The breakout from the weekend range held, but the heavy-volume spike at $2,580 was followed by five hours of fading. Holding above about $2,540 keeps the higher range intact and leaves $2,580 open for another test. Losing $2,540 and then $2,515 would suggest the breakout is fading back toward the old range. This is a read of the price action, not financial advice.
OKX’s data came back stale at first (the newest candle was from 10:00 PKT), so I re-fetched it. The chart runs through the 17:00 PKT hour. Other exchanges may differ slightly. For the weekly comparison I used OKX daily closes.