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#Ethereum is moving in a parabolic structure, but price is now sitting right into a major resistance zone (2.38K–2.42K) an area that has consistently caused rejection in the past.
This is a level worth close attention.
Given the history of this zone, I’m expecting a rejection from here rather than an immediate breakout. The move into resistance has been aggressive, and this kind of structure often leads into a reaction at key supply areas.
That said, there are multiple news and events today, so volatility can increase and influence price behavior around this level.
For now, all focus is on this resistance.
I’ll be watching closely and will update accordingly.
#ETH $ETH