Ethereum trades near $2,680 after a liquidation-driven sell-off, with traders watching support at $2,400–$2,600 and resistance near $2,830.
Ethereum stabilized near $2,680 after a sharp sell-off triggered widespread long liquidations.
Price action slowed as selling pressure eased, while traders reassessed short-term risk. Market activity shifted toward observation rather than aggressive positioning.
Liquidation Event Resets Short-Term Positioning
Ethereum saw a heavy liquidation of long positions during the recent downturn. Data from derivatives markets showed forced exits across multiple leverage levels.
This reset reduced open interest and eased immediate downside pressure.
Traders noted that similar liquidation events often precede short-term stabilization. With leveraged exposure reduced, price movements became less volatile.
As a result, trading activity became more selective and measured.
Market participants avoided rushing into new positions. Instead, attention moved to price structure and reaction levels. This approach reflected caution after rapid downside moves.
Key Support Zones Remain in Focus
Ethereum continued to hold near the $2,680 area after the sell-off. This level served as short-term support during recent trading sessions.
Price stabilized around this zone as selling pressure slowed. Traders closely observed this level for signs of liquidity sweeps.
Such moves often occur after strong liquidations. Market activity suggested hesitation rather than aggressive continuation lower.
Higher time frame support is positioned further down, between $2,400 and $2,600. This range reflects prior consolidation and sustained trading activity.
Historical price action shows repeated reactions within this zone. As a result, it remains a key area for market participants.
A return to this range could bring renewed buying interest. Traders view it as a structural support area rather than a short-term target.
Larger long positions remain conditional on confirmation signals. Traders look for clear reversals and structure shifts before increasing exposure.
Volume behavior and price acceptance remain important factors. Sudden price moves without confirmation are treated cautiously.
Positioning decisions rely on reaction at key levels rather than forecasts.
Related Reading: Ethereum’s Next Big Milestone: ERC-8004 and the Rise of Trustless AI
Short-Term Trading Levels Define Near-Term Action
With the market entering a low-volatility period, focus shifted to scalp opportunities.
Friday sessions often bring reduced momentum, and traders adjusted strategies accordingly. Short-term trades replaced directional conviction.
Liquidity above the $2,830 level remained a reference point. A move above that high could trigger brief short setups after confirmation.
Such trades would remain limited in scope and duration. A clean reclaim of $2,830 could also open a path toward $2,930.
That level previously acted as support before the sell-off. Traders watched for acceptance above reclaimed levels before acting.
Source: https://www.livebitcoinnews.com/eth-holds-2680-after-liquidation-flush-key-levels-traders-are-watching/
