Ethereum Price Analysis: ETH Holds Bullish Structure, but $2.8K Remains the Key Hurdle

Ethereum is holding at $2.7K after another rejection from overhead resistance. Buyers have preserved the broader upward structure, but a sustained breakout is still needed to turn the current consolidation into a fresh bullish leg. On the daily chart, Ethereum continues to consolidate around the lower boundary of the $2.68K–$2.77K resistance zone. Several candles have produced upper wicks within this area, highlighting persistent selling pressure. However, the relatively shallow pullback suggests that buyers remain active beneath resistance. The broader outlook remains constructive, with ETH trading above the ascending trendline and both displayed moving averages. The yellow moving average has crossed above the orange average and continues to rise, reinforcing the recovery structure. This bullish crossover provides a supportive backdrop, although price still needs to clear the nearby supply zone. A decisive daily close above $2.77K, followed by a break of the recent high around $2.8K, could pave the way toward the $2.9K–$3K resistance zone. Conversely, a loss of the consolidation lows around $2.64K would increase the likelihood of a deeper correction toward the rising trendline and the highlighted $2.36K–$2.42K support zone. The 4-hour chart shows Ethereum trading within an ascending channel. Following its rejection near the upper boundary around $2.78K, the price pulled back toward the channel’s midpoint and has since recovered to approximately $2.7K. This suggests that the latest decline has so far remained a correction within the broader upward structure. The immediate obstacle remains the $2.68K–$2.77K supply zone. Holding above the channel midpoint around $2.67K could support another attempt to clear this barrier. A successful breakout would bring the upper channel boundary, currently around $2.8K–$2.82K, into focus. However, a sustained move below the midpoint and the recent $2.65K lows would weaken the near-term outlook. Such a development could expose the $2.63K and $2.58K support areas, followed by the $2.44K–$2.48K demand zone. The channel’s lower boundary approaches this demand area, making it an important region for preserving the broader bullish structure. The two-week Binance ETH/USDT liquidation heatmap shows substantial estimated liquidation clusters above and below the current price. A particularly bright overhead band sits around $2.78K–$2.8K, with additional concentrations extending toward $2.85K. Below price, a prominent cluster appears around $2.61K–$2.63K, alongside a broader concentration across the $2.55K–$2.6K region. The overhead cluster closely aligns with the recent price highs and the upper portion of the technical resistance area. If buyers establish a sustained breakout above $2.77K, short