Ethereum is currently trading at $2,524, just below the critical supply zone between $2,560 – $2,600, where price has been repeatedly rejected. The bulls are showing signs of exhaustion – is a deeper correction on the horizon?
🔵 Major Technical Zones:
🔹 Resistance (Sell Zone): $2,560 – $2,600
🔹 Mid Support: $2,123
🔹 Key Demand Zone: $1,524 – $1,600 (High-Volume Buy Area)
📉 Bearish Scenario (Likely if rejection holds):
A failure to break above $2,600 could lead to a breakdown toward $2,123.
If $2,123 doesn’t hold, $1,524 is the next target — a zone with historical demand and a previous breakout base.
🧠 Volume Profile Insight:
Notice how volume increases around $1,524, indicating strong buyer interest in this zone. The space between $2,100 and $1,524 is thin — expect fast movement if $2,100 cracks.
📆 Key Dates:
Economic events marked on the chart (June 11–16) could act as catalysts for volatility.
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💬 Do you think ETH will break above the supply or is this the calm before the drop? Share your analysis below!
#Ethereum #ETHUSD #CryptoAnalysis #PriceAction #SupplyDemand #LuxAlgo #SmartMoney #TradingView
🔵 Major Technical Zones:
🔹 Resistance (Sell Zone): $2,560 – $2,600
🔹 Mid Support: $2,123
🔹 Key Demand Zone: $1,524 – $1,600 (High-Volume Buy Area)
📉 Bearish Scenario (Likely if rejection holds):
A failure to break above $2,600 could lead to a breakdown toward $2,123.
If $2,123 doesn’t hold, $1,524 is the next target — a zone with historical demand and a previous breakout base.
🧠 Volume Profile Insight:
Notice how volume increases around $1,524, indicating strong buyer interest in this zone. The space between $2,100 and $1,524 is thin — expect fast movement if $2,100 cracks.
📆 Key Dates:
Economic events marked on the chart (June 11–16) could act as catalysts for volatility.
---
💬 Do you think ETH will break above the supply or is this the calm before the drop? Share your analysis below!
#Ethereum #ETHUSD #CryptoAnalysis #PriceAction #SupplyDemand #LuxAlgo #SmartMoney #TradingView
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