Ethereum Stuck in Range as Buyers Defend Lower End

Ethereum's price has been stuck in a range between $2,350 and $2,560, with buyers defending the lower end of this range. The cryptocurrency recently rebounded from around $2,380 after sellers failed to sustain momentum above $2,500.

The key resistance zone lies between $2,545 and $2,567, and analysts believe that if Ethereum can close above this range, it could pave the way for a push toward $2,600 and potentially $2,750. However, most of the upside liquidity has already been absorbed, leaving only a small cluster near $2,600.

Data on Spot Average Order Size shows that most trading activity near $2,400 to $2,500 consists of normal-sized orders by retail participants, while the earlier spike in large 'whale' orders has diminished. Analysts contend that renewed large-order activity, especially sustained whale buying near $2,567, would provide traders with stronger confirmation of a trend reversal.