Ethereum Consolidates Below $3,000 as Traders Monitor Key Resistance

Ethereum is consolidating below the $3,000 level, with bulls aiming for a breakout. Market conditions are fragile due to geopolitical tensions, particularly between Israel and Iran, causing volatility across risk assets.

ETH remains above $2,500 support, reflecting caution among traders.
Technical analysis indicates a tight trading range with price wicks being absorbed, suggesting potential future volatility.
A close above $2,800 could signal bullish momentum and target $3,000.

Market Context and Price Movements

Ethereum is over 60% below its 2024 high of $4,100 but shows tentative recovery signs. Key resistance levels need to be confirmed through higher timeframe closes, particularly around $2,800–$3,000.

Geopolitical tensions and macroeconomic uncertainties are affecting sentiment.
ETH is currently locked in a range between $2,500 and $2,800.
The asset is holding above the 100-period simple moving average (SMA), which provides short-term support.

Traders are looking for a decisive move: a close above $2,800 may lead to upward momentum, while a drop below $2,500 could indicate renewed bearish pressure. For now, market participants remain cautious.