Ethereum is at a pivotal point as buyers work to uphold the $2,600 support level, striving to stabilize the price following recent fluctuations. While this level is maintaining short-term downside control, the overarching market pressure and deteriorating structure have bears on alert for a possible breakdown that could pave the way for a more significant macro pullback. On X, Can Özsüer pointed out that Ethereum is presently maintaining its position above the $2,600 support zone on the 6-hour chart, a level that has consistently offered a robust foundation for price movement.
ETH’s ability to maintain this level and steer clear of a definitive candle close beneath it keeps the overall framework positive for a possible upward movement. With support remaining strong, the analyst highlighted a potential recovery toward $3,050, which could be followed by a move into the $3,150 area. These zones are identified as logical reaction levels where the price could either consolidate or encounter temporary resistance if buying momentum gradually intensifies. Özsüer emphasized that for Ethereum to achieve a more significant bullish continuation, it needs to reclaim $3,350, which he identified as box number two on the chart. A decisive close above this level, supported by robust volume, would pave the way for further price exploration to the upside. If ETH is unable to overcome that resistance, it may limit the price and initiate another round of selling. A deeper pullback toward the $2,400–$2,100 support range is becoming a real possibility.
Özsüer noted that he has established a long position, leveraging the $2,600 support observed on the 1-hour chart. He is keeping a close eye on price movements and intends to increase his position based on the progression of momentum. Crypto analyst Ardi highlights that Ethereum is at a pivotal juncture, with $2,710 emerging as a key short-term support level. A decisive loss of this zone would probably intensify downside pressure, bringing the $2,620 swing low squarely into focus as the next level where liquidity might be examined. Ardi highlighted that the $2,450 region acts as the key line of defense for the overall market structure.
Maintaining this level is crucial to avert a more significant structural collapse, as a prolonged dip beneath it could leave Ethereum in a considerably weaker technical stance. Compounding the downside risk, ETH/BTC continues to exhibit a robust downtrend, underscoring Ethereum’s persistent underperformance in comparison to Bitcoin. This relative weakness indicates that volatility may remain high in the upcoming sessions, creating a more unstable environment for ETH holders.