Ethereum continues to find strong buying support in the $1,960 to $1,980 range in the short term. This newly established support zone indicates that buyers are reinforcing their positions at these levels. However, persistent selling pressure around $2,120 is preventing the price from staging a swift recovery.
Resistance at the threshold and fresh support base
Analysts note that after its recent pullback, Ethereum has stabilized near $2,017. Shared market charts highlight a green support area just below the price, and prominent red sell walls above it.
According to this setup, the nearest support remains between $1,960 and $1,980. Analyst CW points out that this newly formed buy wall underlines buyers’ efforts to prevent further losses. Historically, Ethereum has responded positively when approaching these same support levels, and the current recovery is seen as further evidence of the support’s effectiveness.
A new upward move will require Ethereum to first break past the $2,120 resistance. Higher up, another significant resistance awaits at $2,240—an area viewed as crucial for a stronger rebound if surpassed.
If Ethereum manages to hold above its current support, the probability of another move toward $2,120 increases. On the other hand, any rejection at the sell wall could mean the price returns to sideways trading within a narrow range.
In the latest chart shared by analyst CW, the $2,120 and $2,230 zones are identified as short-term resistance levels for Ethereum. CW adds that as long as the $1,960 support holds, we may see growing optimism among market participants.
What does the liquidity picture reveal?
Following recent liquidations in Ethereum’s long positions, short positions are now gaining prominence. The recent downturn has wiped out a significant share of leveraged longs, and market data shows a notable reduction in downside liquidity.
CW identifies the first substantial sell-side resistance near $2,230. Should the price rise, sellers are likely to concentrate their efforts around this area.
Market heatmaps reveal a broad liquidity band from $2,300 to $2,450. However, any break above $2,230 is expected to be the first step. If upward momentum continues, Ethereum may contend with resistance across this range; otherwise, prices could remain flat in the short term.
Glossary: A liquidity heatmap visually shows where buy and sell orders are concentrated for an asset at different price levels. Investors use these charts to assess where market liquidity—meaning active buy and sell orders—is highest.
| Level | Type | Main Features |
|---|---|---|
| 1,960 – 1,980 | Buy support | Fresh buy orders, recent bounce point |
| 2,120 | Sell wall | First short-term resistance |
| 2,230 | Sell-side liquidity | Primary resistance band |
| 2,300 – 2,450 | Liquidity range | Greater selling pressure |
Short-term risks and opportunities for ETH holders
Currently, ETH is moving sideways in a channel bounded by buy support and sell pressure. As support strengthens, there’s potential for a renewed push upward; still, the highlighted resistance levels are key points for traders to watch closely in the near term.
