ETH HOLDS $2,661 — NOW THE $2,825 TEST MATTERS!!!!
ETH is sitting around $2,680, down roughly 3% today, but the bigger structure is still interesting. The key question is whether the recent breakout above $2,661.52 becomes support or turns into a failed breakout.
Structure: ETH broke out of a bull-flag structure after weeks of consolidation. Reuters identified $2,661.52 as the key breakout level.
Buying Zone: $2,630–$2,665
This is where the breakout gets its first serious retest.
Resistance: $2,775–$2,825
Reuters identifies this as the likely interim consolidation zone before a larger continuation attempt.
Volume / Leverage: ETH currently has around $55.9B futures volume versus $3.36B spot volume, with approximately $35B open interest. That is a huge derivatives footprint, meaning leverage can accelerate both continuation and rejection.
Momentum: The recent breakout remains constructive, but today's decline shows buyers have not yet established $2,775 as support.
MY READ — 🟢 LONG BIAS
I want to see $2,661 hold, followed by a reclaim of $2,775.
If that happens with stronger spot participation, $2,825 becomes the next major test, while Reuters' technical analysis places a broader bull-flag objective around $3,050.
But there's a clear line in the sand: sustained weakness below $2,560–$2,565 would materially damage this breakout structure.
KEY LEVELS
🟢 Support: $2,630–$2,665
🔴 Resistance: $2,775–$2,825
🎯 Next area: $3,000–$3,050
⚠️ Invalidation: Below $2,560
Bottom line: ETH doesn't need to pump here. It needs to prove $2,661 is now support.
Would you wait for the $2,661 retest or the $2,775 reclaim?
#TradingSignals
$ETH
ETH is sitting around $2,680, down roughly 3% today, but the bigger structure is still interesting. The key question is whether the recent breakout above $2,661.52 becomes support or turns into a failed breakout.
Structure: ETH broke out of a bull-flag structure after weeks of consolidation. Reuters identified $2,661.52 as the key breakout level.
Buying Zone: $2,630–$2,665
This is where the breakout gets its first serious retest.
Resistance: $2,775–$2,825
Reuters identifies this as the likely interim consolidation zone before a larger continuation attempt.
Volume / Leverage: ETH currently has around $55.9B futures volume versus $3.36B spot volume, with approximately $35B open interest. That is a huge derivatives footprint, meaning leverage can accelerate both continuation and rejection.
Momentum: The recent breakout remains constructive, but today's decline shows buyers have not yet established $2,775 as support.
MY READ — 🟢 LONG BIAS
I want to see $2,661 hold, followed by a reclaim of $2,775.
If that happens with stronger spot participation, $2,825 becomes the next major test, while Reuters' technical analysis places a broader bull-flag objective around $3,050.
But there's a clear line in the sand: sustained weakness below $2,560–$2,565 would materially damage this breakout structure.
KEY LEVELS
🟢 Support: $2,630–$2,665
🔴 Resistance: $2,775–$2,825
🎯 Next area: $3,000–$3,050
⚠️ Invalidation: Below $2,560
Bottom line: ETH doesn't need to pump here. It needs to prove $2,661 is now support.
Would you wait for the $2,661 retest or the $2,775 reclaim?
#TradingSignals
$ETH
