Recent Market Overview
Ethereum's price has attempted a rebound after reclaiming $2,620, but short-term uncertainty persists due to multiple resistance levels and weak trading volume. While local demand zones show strong bullish momentum, the broader market structure remains neutral within a narrow consolidation range.
Current Ethereum Price Status
As of now, ETH trades around $2,628, marking a 3% increase over the past 24 hours. This recovery stems from the accumulation zone between $2,517–$2,540, identified by Smart Money Concepts (SMC) as a liquidity pool and breakout area.
Key Observations
- 4-hour chart confirms a bullish breakout structure (BOS) above the $2,600 minor resistance.
- Daily trendline from early June caps upside near $2,710.
- Mixed signals from indicators suggest potential divergence ahead.
Ethereum Price Nearing a Critical Breakout
Technical Indicators
- 50-day EMA (~$2,635) on the 4-hour chart acts as immediate resistance.
- Price has reclaimed 20-day and 100-day EMAs, approaching the Bollinger Band upper curve (~$2,610).
- Daily chart shows a rebound from the 0.618 Fibonacci level ($2,523), a dynamic support zone.
Liquidity and Volume Analysis
- On-Balance Volume (OBV) rises modestly, reflecting improved demand but no decisive spike.
- Average True Range (ATR) at 14.8 indicates subdued volatility—breakout likely only if ETH sustains above $2,640–$2,680 with higher volume.
- Major buy-side liquidity pools remain untested near $2,785–$2,810.
Bullish Divergence in Momentum Indicators
- Awesome Oscillator (AO) turns green, signaling upward momentum.
- Bull/Bear Power (BBP) at 115.98 highlights renewed buyer dominance post-consolidation.
Chain Data Supports Upside:
- MFI nears 64, CMF at +0.33 confirms stronger capital inflow.
- Directional Movement Index (DMI): +DI (35.78) > -DI (29.71), though ADX lacks strong directional strength.
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Why Is Ethereum Rising Today?
- Strong Demand Zone: Accumulation between $2,517–$2,540 attracted liquidity and smart money reallocation.
- Technical Breakouts: EMA crossovers and SMC structures fueled the uptick.
- Caution: Macro-level confirmation requires closing above $2,735–$2,745 (0.236 Fib). Otherwise, retracement to $2,540–$2,580 support is possible.
Price Prediction and Key Levels for June 17
| Indicator | Signal |
|---|---|
| Support 1 | $2,540 (4H EQH + Order Block) |
| Support 2 | $2,517 (0.618 Fib + Demand Zone) |
| Resistance 1 | $2,680 (Supply Cluster + 100 EMA) |
| Resistance 2 | $2,735–$2,745 (HTF SMC + Fib 0.236) |
| RSI (4H) | 64 (Bullish) |
| AO/BBP | Bullish reversal |
| DMI | +DI > -DI (Trend Strengthening) |
Conclusion: ETH shows robust rebound potential, but failure to break $2,735 may trap prices in a volatile range. The $2,540 demand zone remains critical for downside protection.
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FAQ
1. What drives Ethereum’s price today?
ETH’s rise is fueled by technical breakouts and demand near $2,517–$2,540, backed by improving momentum indicators.
2. Can ETH surpass $2,700 soon?
Yes, if volume spikes and price sustains above $2,680. Otherwise, consolidation continues.
3. What’s the worst-case scenario for ETH?
A drop below $2,517 could target $2,400, invalidating the current recovery structure.
4. How reliable are these predictions?
They’re based on real-time data but subject to market sentiment shifts. Always cross-verify with multiple indicators.