#ETH Short-Term Market Update

Ethereum just slipped from $2,122 to around $2,094, showing short-term weakness after failing to hold the intraday highs. The recent rejection suggests that sellers are currently controlling the lower timeframe momentum.

On the intraday structure, price is beginning to form lower highs, which often signals short-term selling pressure. The $2,120–$2,130 zone has now proven to be immediate resistance after the latest rejection.

Key Levels to Watch

• Resistance: $2,120 – $2,130 (recent session high)
• Minor Resistance: $2,100 psychological level
• Support: $2,060
• Stronger Support: $2,040

At the moment, price is trading below the $2,100 level after the quick drop. If Ethereum attempts a short-term bounce, the $2,100–$2,120 region could act as the first supply zone, where sellers may step in again.

From an order book perspective, there is noticeable ask liquidity between $2,120 and $2,150, indicating a cluster of sell orders waiting above the market. On the downside, bid liquidity remains relatively thin until around $2,050, with stronger buying interest appearing closer to the $2,000 region.

This liquidity imbalance suggests that upside moves may struggle unless strong buying pressure clears the overhead offers.

From the higher timeframe perspective, Ethereum still remains inside a broader bullish secular trend, but the daily structure is currently in a corrective phase after the recent highs. Current price action resembles distribution and consolidation rather than a fresh impulse move.

Short-Term Scenario

• Rallies into $2,100–$2,120 may face selling pressure.
• A break below $2,060 could open the path toward $2,040.
• A reclaim above $2,130 would shift intraday momentum back to bullish.

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