Ethereum Compresses Between $1,533 and $3,438 as Breakout Pressure Builds

Ethereum is holding $2,598 with bullish volume building as wedge support and resistance zones compress further.

Price action remains tight under $3,438 while buyers defend higher lows, keeping Ethereum’s breakout structure fully intact.

Daily transactions hover near 1.5M, matching Ethereum’s price squeeze and signaling real pressure beneath current levels.

Ethereum is holding above $2,598.16 after rebounding from a major downtrend that started in early February. Price has since shifted into a rising wedge, pressing higher with stronger volume and repeated support defenses near key zones.

Ethereum Presses Against Resistance as Pattern Tightens

Ethereum continues to form a rising wedge between $1,533.25 support and $3,438.96 resistance. The structure shows clearly defined higher lows, with buyers stepping in at every dip. Price action reflects bullish intent as Ethereum remains elevated within this channel.

Following the breakout in early May, Ethereum has respected the rising support and tested the mid-range multiple times. Each test has sparked a sharp bounce, keeping momentum alive near $2,598.16. Buyers remain in control, especially with volume clustering during each key reaction.

Source: (X)

In previous formations, Ethereum has shown similar patterns before explosive continuation. Price now sits inside a familiar coil, where sellers defend a ceiling but can’t reclaim lower ground. Every touch of $3,438.96 tightens this spring further, raising tension in the chart.

Looking at the structure, Ethereum has not violated its trendline since May’s breakout. The rhythm is intact. Support remains reliable, and bullish volume continues to surface near critical zones. This setup does not reflect exhaustion-it reflects control and positioning.

Transaction Buildout Aligns With Structural Momentum

Zooming out, Ethereum’s network activity mirrors this compression. Daily transactions push against a five-year horizontal barrier near 1.5 million. The lower trendline has climbed steadily from 250K, forming a long-term upward squeeze in activity. Since early 2024, Ethereum transactions have hovered near the peak range, showing strong and sustained on-chain demand. This convergence between price compression and network buildup forms a rare overlap, with technicals and fundamentals both tightening into potential breakout conditions.

Source: (X)

Momentum continues to build inside this coil. Ethereum has held above $2,489.07 multiple times, preventing structural breakdown. Price has not hit a low in months. That matters.

Ethereum has spent weeks hovering beneath $3,438.96 without rejection. Resistance has absorbed pressure, but hasn’t pushed price lower. This is often how breakout conditions mature.

Ethereum now trades inside a clear and active setup. Bulls defend support, bears stall at resistance, and compression tightens. One move could shift control, but the market wants confirmation.

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