ETH Price Tests $2,600 Resistance, Poised for $3,200 Rally
Ethereum price trades just below key resistance at $2,590–$2,600 after weeks of consolidation in a $2,400–$2,700 range. Ethereum price momentum remains muted, indicating any breakout will need stronger buyer interest. A 0.618 Fibonacci retracement around $2,590 and the midpoint of its broader channel mark a critical barrier. Coinglass data shows liquidity clusters at $2,800 on the upside and $2,350 on the downside. Technical analysis points to a Butterfly harmonic pattern, suggesting a corrective leg C toward $2,226 before a potential leg D drives a rally toward $3,200. Traders should monitor Ethereum price reactions at the $2,600 resistance and key supports at $2,400–$2,500 and the $2,226 level to gauge momentum and adjust positions ahead of a possible altseason surge.
Bullish
The combined analysis points to a bullish outlook for ETH. A decisive break above the $2,600 resistance could trigger momentum buying and drive the price toward the $2,800–$3,200 range. Even with potential pullbacks to $2,226 or the $2,400–$2,500 support zone, the harmonic pattern and liquidity clusters signal underlying buying interest. While muted volume warrants caution, entering positions near support levels aligns with a broader altseason rally scenario.