Ethereum Price Faces Pressure Below Key Volume Zone
- Ethereum price remains below major volume profile levels, leaving long-term support under close market scrutiny.
- ETH derivatives activity stays strong across leading exchanges despite recent price weakness and bearish technical positioning.
- Volume profile places resistance above current levels while $1,385 remains a closely watched long-term support.
Ethereum price remained under pressure after holding below major volume profile levels, while derivatives activity stayed elevated as traders monitored whether long-term support could withstand renewed selling.
Ethereum Trades Below Major Volume Levels
A recent chart shared by Alex Marzell on X focused on Ethereum's volume profile. The analysis examined a trading range unchanged for more than two years. Marzell projected ETH could eventually trade below the $1,385 support.
The fixed-range volume profile identified several important technical reference points. Value Area High remained near $3,677 throughout the chart. The Point of Control stood around $2,629.
… Continue reading the full article at the original source below.
This content is automatically aggregated. Full credit goes to the original publisher (cryptonewsland.com).
