ETH Bull Run Hinges on Break Above $2,541 Resistance Wall

Ethereum is in a state of compression as it cools just below key resistance at $2,518 after a sharp 1.97% intraday push.

The smart money sitting at 61% long and technicals at a make-or-break inflection point are indicators that the market is building rather than broken.

A clean break above $2,541 would mean Ethereum has broken out of its Bollinger compression, historically leading to expansions before exhaustion. Immediate support sits at $2,450.31, backed by strong support at $2,405.04.

The positioning data is net-bullish with top traders positioned 61.1% long and retail positioning even more lopsided at 73% long. However, the taker buy/sell ratio shows a slight lean toward aggressive selling in the most recent one-hour window.