Ethereum ($ETH) continues to show impressive strength in the market, encountering resistance at daily support and resistance levels.
Strength of Ethereum in the market
After breaking recent highs, the price of Ethereum is now facing resistance at a daily support and resistance level. According to market observers, this resistance is not expected to hold for long.
$2,650 as an accumulation zone
Analysts are watching for short-term corrections that could provide opportunities to accumulate long positions, especially in the imbalance zone around $2,650. This level is noted as a zone the price may revisit.
Market structure and growth prospects
Despite some short-term resistance, Ethereum's market structure continues to show strength. If ETH breaks through the current resistance, this could lead to even stronger gains.
The strong market structure of Ethereum creates optimistic sentiments among investors who anticipate further gains after overcoming resistance at the current level.
