Ethereum Holds Strong as Bulls Target $2,650 Imbalance

• Ethereum broke recent highs and nears daily resistance.
• $2,650 is a crucial level for potential long positions.
• Momentum remains bullish despite minor corrections.

Ethereum ($ETH) continues to show impressive strength in the market. After breaking recent highs (RHs), the price is now encountering some resistance at a daily support/resistance (S/R) level. According to market observers, this resistance is not expected to hold for long.

Technical traders believe the bullish structure is intact, and Ethereum could push higher once this resistance level is cleared. The momentum remains in favor of the bulls, and the recent breakout signals continued interest in Ethereum by both retail and institutional investors.

$2,650 Identified as a Key Accumulation Zone

While Ethereum pushes upward, analysts are watching for short-term (LTF) corrections. These pullbacks, particularly into the imbalance zone around $2,650, are viewed as opportunities to accumulate long positions.

An “imbalance” refers to areas on the chart where price moved quickly without much trading, leaving gaps that markets often revisit. If Ethereum dips into this zone, it may offer a favorable entry for traders betting on further upside.