Ethereum Bull Run Meets Liquidation Risk as Price Teeters Near Key Support
Ethereum's price is currently in a volatile phase as it tries to defend its recent breakout and potential $3,000 target. According to a Brave New Coin snapshot from September 24, ETH is trading near $2,675, down about 3.80% over the past 24 hours.
The former resistance zone around $2,539 is being watched as a potential support retest, which could provide another opportunity for Ethereum to challenge its recent highs. However, if buyers fail to defend this level, it would weaken the recent breakout and make a deeper correction increasingly relevant.
Crypto analyst Wealthmanager's daily chart identifies approximately $2,539 as a potential retest level, while the larger upside projection sits near $3,391. But that target remains conditional, with Ethereum price first needing to defend $2,540, recover $2,800, and establish stronger momentum above $3,000.
A sustained move below the former consolidation would instead weaken the breakout and shift attention towards deeper support, such as the equal lows around $2,300. The chart also highlights overhead resistance around $3,000-$3,200, where another rally could encounter selling pressure.