Ethereum Holds the Line – Is $2,300 the Key to the Next Rally?

17 giu

By examining the #Ethereum chart on the weekly (logarithmic) timeframe, we can see that after rising to $2,880, the price faced selling pressure and corrected down to $2,500. This upward move created a large Fair Value Gap (FVG) between $1,870 and $2,300, which is likely to be filled in the medium term if the price drops further.

However, as long as Ethereum continues trading above the $2,300 level and does not close below it, we can still expect further bullish movement.

17 giu

Nota

The large Fair Value Gap (FVG) between $1,870 and $2,300 suggests a potential imbalance in price action that the market may revisit in the medium term. This FVG was formed during a strong bullish move, which typically attracts price back into the gap before continuing higher.

However, the key level to watch is $2,300. As long as ETH holds above this zone and no weekly candle closes below it, bullish momentum remains valid. A close below $2,300 would signal a shift in structure and increase the probability of a deeper retracement into the FVG zone.

🧠 Bias: Neutral-to-Bullish while above $2,300
❌ Invalidation: Weekly close below $2,300
🎯 Key Levels:

Resistance: $2,880

Support: $2,500 → $2,300 → FVG zone ($2,300–$1,870)