Ethereum News Update: ETH Tests Resistance After $2,900 Bounce as Liquidity Battle Deepens

Ethereum’s short-term structure has tightened after its price rebounded from a major liquidity zone near $2,900 and moved back into overhead resistance on the 2-hour ETH/USDT perpetual chart. The move followed a liquidity sweep below $2,920, where stop orders and resting bids had accumulated over several sessions. That sweep triggered long positions and pushed the price back toward the midpoint of the range.

At the time of observation, Ethereum traded near $2,981, sitting just below $3,000. Momentum slowed as the price approached an area with repeated historical rejections. This rebound confirmed a setup previously outlined by market analyst Lennaert Snyder, who noted that the liquidity grab created immediate upside for traders positioned for the bounce.

Resistance Zones Shape Short and Long Scenarios

After the rebound, Ethereum advanced into a resistance band between $3,050 and $3,060. This zone aligns with prior highs and failed continuation attempts seen on the chart. A clearly marked resistance level near $3,055 has capped several rallies in recent sessions. Price behavior in this region now defines the next directional move.

One scenario involves a brief setup if Ethereum exhibits a shift in market structure at its resistance level. This would include rejection and lower highs on lower time frames. Another bearish setup involves a sweep above the $3,076 high. A brief push above that level, followed by failure, would signal a short entry targeting a move lower.

On the bullish side, a reclaim of resistance on the 4-hour timeframe would change the setup. In that case, price could extend toward the $3,155 resistance level shown on the chart.

Will Ethereum confirm direction at resistance or rotate back toward lower liquidity?

Untapped Liquidity Below as Holder Behavior Diverges

Below the current price, the chart shows a wide liquidity pocket near the $2,800 lows. This area remains untouched and contains significant resting liquidity. Snyder noted that any test of this zone would require a clear reversal signal before considering long positions. The setup depends on reaction rather than anticipation.

Beyond technical levels, holder behavior presents mixed signals. Long-term holders have resumed accumulation after nearly five months of steady distribution. This shift follows prolonged outflows that weakened long-term supply stability earlier in the year. Renewed holding suggests improving confidence among this group.

In contrast, whale activity serves as a cautionary sign. Addresses holding between 100,000 and 1 million ETH sold about 270,000 ETH over the past five days. At current prices, that distribution exceeds $793 million. The selling adds near-term supply pressure and reflects defensive positioning by large holders.

Together, the chart structure and on-chain behavior show a market driven by liquidity movement rather than sustained trend expansion. Ethereum now trades between defined resistance above and untapped liquidity below, with price action set to resolve the imbalance.

Also Read: ETH Price Set for 80% Upsurge in 2026 Compared to Bitcoin

Conclusion

Ethereum price action rebounded from $2,900 liquidity and now trades near key resistance. Short and long setups depend on reactions at $3,076 and $3,155. Untapped liquidity near $2,800 remains important. Traders should watch for shifts in structure and liquidity sweeps for confirmation.