Ethereum's price has recently shown signs of recovery after reclaiming the $2,620 level, though its short-term momentum remains constrained by multiple resistance zones and relatively low trading volume. While local demand areas reflect robust bullish sentiment, the broader market structure continues to indicate a neutral trend within a tight consolidation range.
Current Ethereum Price Situation
As of the latest data, Ethereum is trading near $2,628, marking an increase of over 3% in the past 24 hours. This rebound originated from the accumulation zone between $2,517 and $2,540—a region identified by Smart Money Concepts (SMC) as a recent liquidity grab and an Equal of Highs (EQH) breakout area.
The ongoing recovery gained confirmation from a Bullish Break of Structure (BOS) on the 4-hour chart, signaling a clear break above the minor resistance at $2,600. However, the daily trendline established since early June remains intact, capping upward movement near $2,710. Several technical indicators currently present mixed signals regarding future direction.
Key Breakout Levels for ETH Price Movement
On the 4-hour chart, Ethereum is testing the 50-day Exponential Moving Average (EMA) near $2,635. It has already reclaimed the 20-day and 100-day EMAs and is approaching the upper Bollinger Band around $2,610, indicating strengthening short-term bullish intent.
The daily chart shows ETH bouncing from the 0.618 Fibonacci retracement level at $2,523, which served as dynamic support. Trading volume remains moderate, with the On-Balance Volume (OBV) indicator gradually rising—suggesting improved demand but lacking a decisive surge.
Recent price action has been relatively stable, with the Average True Range (ATR) on the 30-minute timeframe holding around 14.8. A sustainable breakout would likely require ETH to maintain levels above the $2,640–$2,680 range accompanied by increased relative volume.
Liquidity data reveals a small liquidity pool formed recently around $2,540, with current trading occurring just below the previous EQH. However, the significant buyer liquidity pool between $2,785 and $2,810 remains unchallenged. Bulls need to gather additional momentum to target these key higher levels.
Momentum and Volume Indicators Suggest Bullish Divergence
The Awesome Oscillator (AO) has turned green again with rising histogram bars, while the Bull Bear Power (BBP) indicator reads 115.98, signaling notable buyer strength emerging after an extended consolidation period.
On-chain metrics and money flow indicators support this momentum. The Money Flow Index (MFI) approaches 64, and the Chaikin Money Flow (CMF) has turned positive at +0.33, indicating strengthening capital inflow.
The Directional Movement Index (DMI) shows strengthening bullish trend conditions as the +DI (35.78) has risen above the -DI (29.71), though the Average Directional Index (ADX) remains below the threshold for a strong directional move.
Notably, the Supertrend indicator on the 30-minute chart flipped bullish from $2,584 and continues to support the current recovery. As long as the price holds above the $2,600 zone, the Supertrend's signal confirms the short-term bullish bias. This alignment with the Parabolic SAR (Stop and Reverse) indicator further reinforces positive sentiment.
Reasons Behind Ethereum's Price Increase Today
Today's price rise primarily stems from strong demand between $2,517 and $2,540, where liquidity and smart money repositioning occurred. The bullish SMC structure, breaking key EMAs, and improving momentum indicators collectively contributed to the upward movement.
However, this rebound remains contained within the intermediate structure. For a confirmed macro breakout, Ethereum must surpass the $2,700–$2,735 range and achieve a daily close above the 0.236 Fibonacci retracement level at $2,745. Without these developments, price could retreat toward the $2,580–$2,540 support zone for extended consolidation.
Ethereum Price Prediction and Key Levels for June 17
| Indicator | Signal |
|---|---|
| Support 1 | $2,540 (4H EQH and Order Block) |
| Support 2 | $2,517 (0.618 Fib + Demand Zone) |
| Resistance 1 | $2,680 (Supply Cluster + 100 EMA) |
| Resistance 2 | $2,735–$2,745 (Fib 0.236 + HTF SMC) |
| RSI (4-hour) | Near 64 (Bullish Territory) |
| AO/BBP | Bullish reversal forming |
| MFI/CMF | Capital inflow supporting upward move |
| DMI | +DI > -DI, indicating trend strength |
| ATR (30-minute) | 14.81 (Moderate volatility) |
| SMC | CHoCH + BOS suggest liquidity shift up |
Overall, Ethereum's price recovery shows considerable strength, but the rally remains vulnerable unless buyers can break above the higher timeframe resistance at $2,735. Until then, upward moves may face repeated rejections, while the demand zone around $2,540 should continue providing support.
👉 Explore real-time trading tools
Frequently Asked Questions
What is driving Ethereum's price movement today?
Ethereum's price increase is primarily driven by strong demand between $2,517 and $2,540, where liquidity accumulation and smart money repositioning occurred. Technical factors including a bullish structure break, key moving average breakthroughs, and improving momentum indicators have contributed to the upward movement.
What are the key resistance levels for Ethereum?
The immediate resistance sits near $2,680, which represents a supply cluster and the 100 EMA. The more significant resistance zone lies between $2,735 and $2,745, containing the 0.236 Fibonacci retracement level and higher timeframe Smart Money Concepts levels.
Where is the support if Ethereum's price declines?
Primary support exists at $2,540, which corresponds with the 4-hour EQH and an order block area. Secondary stronger support rests at $2,517, representing the 0.618 Fibonacci level and a proven demand zone.
Which indicators suggest continued bullish momentum?
The Awesome Oscillator turning green, positive Bull Bear Power reading, Money Flow Index near 64, and positive Chaikin Money Flow all suggest underlying bullish momentum. The Directional Movement Index showing +DI above -DI further confirms strengthening trend conditions.
What could trigger a stronger breakout for Ethereum?
A sustained move above $2,680 accompanied by increased volume could trigger stronger breakout momentum. However, a definitive macro breakout would require a daily close above the $2,735–$2,745 resistance zone.
How volatile is Ethereum currently?
The Average True Range reading of 14.81 on the 30-minute timeframe suggests moderate volatility. This indicates that while price movements are occurring, they haven't entered extremely volatile territory yet.