Ethereum Holds $2,700 but Faces Key $2,800 Resistance

Ethereum (ETH) is maintaining its position above the $2,700 mark after facing another rejection from the resistance level. The broader upward structure remains intact, but a sustained breakout is necessary to confirm a fresh bullish trend.

On the daily chart, Ethereum is consolidating around the lower end of the $2,680, $2,770 resistance zone. Several candles within this range have shown upper wicks, indicating persistent selling pressure. However, the pullbacks have been relatively shallow, suggesting that buyers are still active beneath the resistance.

The current consolidation phase highlights the ongoing battle between buyers and sellers. While the bullish structure is preserved, a decisive move above the $2,800 hurdle is needed to turn the current consolidation into a more robust upward trend.