Based on the ETH/USD daily chart, the overall market structure has shifted into a corrective phase after forming higher highs in previous months and is now positioned at a critical decision area. The strong rejection from the marked supply zone (red area) indicates that selling pressure remains active, as price has repeatedly failed to break above this level. This zone continues to act as a key resistance where each retest triggers bearish reactions.
On the downside, the demand zone (blue area) plays a crucial role in maintaining market structure. Positive price reactions from this area highlight the presence of buyers defending key support levels. The formation of higher lows near this zone may signal weakening selling momentum; however, as long as price remains below the supply zone, a sustained bullish trend cannot be confirmed.
At this stage, price is moving within a range between the demand and supply zones, making the 3,300–3,600 USD region a decisive level. A clean breakout and consolidation above this resistance could open the path toward previous highs, while another rejection would increase the probability of a pullback toward the demand zone. Ethereum is therefore at a sensitive point where the next directional move will be defined by price reaction around these key levels.
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