After weeks of accumulation, Ethereum price today is pressing into a crucial resistance zone near $2,640, a level that has consistently capped upside attempts since early June. The broader structure shows bullish intent, but a clear breakout above this supply zone is needed to confirm a trend continuation.

What’s Happening With Ethereum’s Price?

The Ethereum price action is approaching the apex of a large symmetrical triangle, visible on the daily chart. ETH is currently priced at $2,623.83, with intraday highs extending to $2,646.02. The structure has been coiling since April, with price consistently posting higher lows against horizontal resistance — forming what appears to be an ascending triangle within a broader consolidation phase.

Volume is rising gradually, and price continues to hold above the Bull Market Support Band (20-week SMA and EMA), currently between $2,194.90 and $2,407.89. This structure reinforces the mid-term bullish thesis.

Smart Money Concept analysis shows multiple recent CHoCHs and BOS confirmations near $2,580–$2,600, adding weight to …

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