The Ethereum price is trading near the middle of a wide range after a sharp sell off. On the latest Ethereum chart we see ETH price fall from a high near 2,880 dollars down toward 2,640 dollars before it bounced. That drop came with a clear spike in ETH trading volume, which shows strong selling pressure. Since that move, the Ethereum price has moved sideways in a tight band between 2,720 and 2,780 dollars. Buyers step in near the lower end of the band, but they do not push price back to the old high. This kind of price action often appears when a market needs time to cool after a big move.
From a technical analysis view, the pattern still leans bearish. The series of lower highs on the daily Ethereum chart tells us that each bounce loses strength. The Ethereum price prediction that fits this pattern points to more tests of support rather than a fast break higher. Volume supports this idea. The largest bars on the chart appear on red candles during sell offs. When ETH price tries to rally, the volume fades. Fewer traders feel ready to chase the move up, so rallies stall.
Short term support sits near 2,720 dollars, the area where buyers have already defended the Ethereum price several times. Just below that, around 2,700 dollars, sits the floor of the recent range. If ETH price breaks under this zone with rising volume, a new wave of selling can follow. In that case, a cautious Ethereum price forecast would look for a move back toward 2,650 dollars and the low near 2,640 dollars from the first spike down. Many traders will watch these levels as key support.
On the upside, the first resistance zone stands near 2,780 to 2,800 dollars. This is where the last bounce ran out of steam. For a more bullish Ethereum price prediction, bulls need to push price above that band and hold it there. They also want to see ETH trading volume expand on green candles instead of red ones. Without that shift, every rally attempt can draw in new sellers who see a chance to short near resistance.
The wider crypto market also shapes this Ethereum technical analysis. Bitcoin has paused after a strong run, and many large coins now trade inside ranges. When the crypto market moves this way, traders enter and exit positions fast. That flow shows up in the Ethereum price as quick spikes that fade. Until a clear breakout appears in the wider market, the base case Ethereum price forecast remains a range with a gentle downward tilt.
Traders who watch ETH price today may focus on how price behaves near intraday support. If the Ethereum price keeps closing candles above 2,720 dollars and volume dries up, the market could build a base there. That would open the door for a test of 2,800 dollars and then 2,850 dollars. If price slices through support on strong volume, the path of least resistance turns down. Swing traders might then look for entries closer to 2,650 dollars or even 2,600 dollars, which lines up with older demand zones on the chart.
For now the message of price action and volume stays clear. Sellers still drive the sharp moves while buyers manage only short lived bounces. The Ethereum price trades below recent highs, and the trend of lower highs has not broken. Until that changes, the tone of this Ethereum price prediction remains slightly bearish. Traders who respect support and resistance levels and track ETH trading volume can navigate this range with more care while they wait for the next strong trend to appear.
