Market Recovers After Weeks of Selling Pressure as Key Demand Zone Holds
Ethereum climbed back above $2,800 in early Friday trade, signaling a potential shift in momentum after several weeks of steady declines. The rebound follows a clean reaction from the major demand zone highlighted on the daily chart, where buyers stepped in aggressively to defend support.
The move comes at a crucial time, with ETH attempting to stabilize after nearly a month of lower lows. Market analysts note that the bounce is not yet confirmation of a broader trend reversal, but the technical setup now favors a potential retest of upper resistance levels if strength continues.
ETH Reclaims Critical Territory
The chart shows Ethereum sliding into the deep liquidity pocket between $2,550–$2,700, a range that has acted as a structural support area since mid-summer. Once price tapped the zone, volume surged and ETH reversed upward.
Traders view this area as significant because it aligns with earlier break-of-structure points and a prior bullish continuation block. One analyst commented that “Ethereum has respected a key high-time-frame demand level, and as long as this zone holds, the market has room to revisit the mid-range supply.”
The immediate upside target sits near $3,250, where a thick supply band emerges on the chart. This region has rejected price multiple times, making it the next major obstacle for bulls. BitXJournal expert in market structure noted that “the $3,200–$3,300 band remains the line in the sand. A decisive reclaim would shift sentiment toward a broader recovery cycle.”
Outlook Strengthens if Current Levels Sustain
Momentum has started to build, and shorter-time-frame structure shows a fresh break of structure to the upside, confirming buyer control for now. The bounce also helps stabilize broader crypto sentiment, which had been declining alongside major macro economic concerns.
Still, analysts warn that failing to maintain levels above $2,750 would expose Ethereum to renewed downside pressure. “The market needs follow-through,” BitXJournal trader added. “A single bounce is not a trend, but the reaction is strong enough to keep bulls optimistic.”
With liquidity reclaiming upward and buyers showing commitment at higher lows, Ethereum now enters the weekend trading with renewed momentum and a technical foundation that supports a continued push higher—if market conditions remain stable.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.