Crypto
Ethereum Price Consolidates Above $2.35K as Sellers Push Back
Ethereum's recent price surge has led to a consolidation phase above $2.35K, but sellers have begun to push back around the highs.
According to technical analysis, Ethereum's daily structure has improved significantly since breaking out of the $1.85K-$1.92K demand zone.
The asset reclaimed both major moving averages and recently tested the major resistance area around $2.63K-$2.70K, where it encountered selling pressure.
A sustained breakout through this supply zone could strengthen the bullish structure and potentially lead to a rally towards the next major resistance area around $2.90K-$3K.