$ETH
Ethereum’s short-term structure is now framed by two primary technical zones. On the downside, the $2,960–$2,950 region represents a well-tested demand area built from repeated intraday bounces and visible liquidity concentration. Below that level, downside exposure may expand toward earlier consolidation ranges.
The chart suggests a bearish outlook for Ethereum, with a potential short-term rise toward the $3,050 supply zone before a projected rejection and decline toward support near $2,950.
On the upside, the $3,050 zone aligns with both the descending channel’s upper boundary and a visible supply zone formed during previous distributions. From a market-structure standpoint, this region commonly attracts short-term selling when upside momentum weakens. A rejection near $3,050 would therefore be consistent with broader corrective behavior rather than trend failure.
Importantly, these levels remain probabilistic reference points rather than guarantees. Their relevance depends on volume expansion, order-flow dynamics, and whether price compression resolves with sustained directional follow-through.
