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Ethereum rebounded after a sharp dip, drawing renewed attention from traders to nearby resistance levels. Market commentator Ted Pillows said the token had “fully recovered from yesterday's dump,” as ETH climbed back toward the $2,000 area following a selloff that bottomed in the mid $1,800s.
On the daily Binance chart shared on X, ETH’s recovery erased most of the prior session’s losses and returned price to a key horizontal zone that previously functioned as support and resistance. Traders are now watching $2,100 as the next major level to reclaim, with Pillows indicating that regaining this area would strengthen the short-term structure.
The $2,100 zone also aligns with a red resistance band on the chart. Above it, $2,400 is identified as the next major supply area. Earlier breakdowns show ETH losing the $2,400 region before accelerating lower, turning that level into overhead resistance.
Lower support bands are also highlighted near $1,720 and $1,540, marked as prior demand during earlier consolidations. For now, Ethereum is holding above the upper green support zone while testing the lower edge of the $2,100 resistance region. A sustained move above $2,100 could open the path toward $2,400, while failure to reclaim it would likely keep price within the broader consolidation range.
Ethereum is also approaching a sell wall near $2,125, a level described by market commentator CW8900 as potential resistance. In an X post, CW8900 said ETH would reach the $2,125 zone, characterizing it as a barrier that sellers may defend.
On the four-hour Binance chart shared by CW8900, a red resistance block sits just above recent swing highs. The chart also shows a broader downtrend from late January, followed by consolidation. After the sharp drop, ETH formed a base and rebounded toward the highlighted resistance area, with $2,125 aligning with prior breakdown levels where price previously failed to sustain upward momentum.
According to CW8900, a breakout above $2,125 is essential for further upward movement. If buyers push through and hold above that level, the next supply region is positioned higher near the mid $2,400 area. If the sell wall holds, Ethereum could face renewed pressure and remain contained within the broader range defined by the lower support zones.
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