Ethereum Hits Major Resistance – Is a Drop to $2K or Even $1.5K

Ethereum has just tagged a key supply zone (highlighted in blue), and price is showing early signs of rejection. This area has historically been a strong resistance zone where previous rallies lost steam.

📊 Market Snapshot:

Rejection from the $2,600–$2,650 supply area.

Bearish wicks forming near the top — signs of buyer exhaustion.

Lower highs on momentum indicators.



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🔻 Possible Retracement Levels:

1. $2,070.72 – Previous structure resistance, now a key support level.


2. $1,524.06 – Strong demand zone (historical bounce area + high volume node).



🟥 Red arrows show logical pullback zones that could offer re-entry or profit-taking opportunities.


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📅 Macro Events to Watch:

Major U.S. economic data and Fed announcements (noted near early June) could trigger volatility. ETH is sensitive to macro sentiment, especially with rates and inflation decisions.


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🧠 Trading Plan:

🔸 Short-Term Bearish Bias: If ETH fails to break and hold above $2,650 with volume, we could see a deeper correction.
🔸 Bullish Invalidation: Clean breakout and hold above $2,700 would shift bias back to bullish.


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👇 What’s Your Move?

Are you expecting a breakout above resistance or preparing for a pullback? Drop your thoughts and charts below. Let’s collaborate and grow together 💬

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