Ethereum surged 3% in one hour, moving from $2.38K to $2.46K after testing the demand zone between $2.36K and $2.44K. Key support lies around $2.34K-$2.36K, corresponding to the 50% Fibonacci retracement of the previous advance; a decisive break below this level could extend the correction toward $2.23K, $2.15K, then $2.07K. The immediate resistance zone sits between $2.5K and $2.56K, above which a recovery toward the former consolidation range around $2.67K-$2.73K would become more credible. Whale activity is reappearing near $2.4K, indicating potential selling pressure if these large players are distributing their positions, which could accelerate a bearish breakdown.
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