ETH Approaches Major Supply Zone After Rebound From $2,616 Demand Level

Ethereum approaches major resistance as price rebounds from $2,616 and maintains a rising market structure.

On-chain data shows strong network activity with TVL at $70.16B and rising ETF inflows supporting demand.

Exchange supply drops to 8.84% while developers advance upgrades, reinforcing Ethereum’s broader ecosystem strength.

Ethereum trades near its mid-range levels after a steady rebound from recent support, and market data shows price moving toward a key resistance zone that has triggered reactions in past cycles. Analysts say a reversal structure is forming, and buyers are preparing for another test of the upper supply region. At the time of writing, Ethereum was trading at $3,052.

Ethereum Approaches Key Resistance as Structure Maintains Upward Path

According to Crypto Ceaser, Ethereum moved from a descending channel into a confirmed breakout above mid-range support earlier in the cycle. Price then advanced toward weekly resistance near $4,789–$4,866, where the chart recorded a clear rejection. The move pushed Ethereum back toward the $2,616 demand zone, which produced a firm rebound.

The chart now shows Ethereum returning toward the $3,120 area while maintaining a rising structure. Buyers continue to support the trend as the market approaches a wide supply zone between $3,500 and $4,000

Source: KamranAsghar(X)

According to an observation by Kamran Asghar, Ethereum is pulling back after a strong rally and is now moving through the 0.618–0.75 Fibonacci region between $2,800 and $2,900. He said this area “is a high-probability demand zone,” and noted that accumulation may appear before any attempt to re-test the recent high

On-Chain Metrics and ETF Activity Point to Rising Network Participation

On-chain data shows continued activity across Ethereum’s ecosystem. DeFiLlama records $70.166 billion in Total Value Locked, with steady inflows of $153.67 million entering Ethereum platforms in the past day. Active addresses reach 474,956, and DEX volume stands near $2.218 billion. NFT volume records $2.64 million, and bridged TVL reaches $459.372 billion.

Source: DeFiLlama

Market participation remains strong as exchange supply drops. Data from CoinGlass shows only 8.84% of Ethereum’s supply on exchanges, and analysts attribute some of this movement to ETF demand. SoSoValue reports that Ethereum ETFs added more than $312 million last week and continued to record inflows through the current week.

Developers also advanced network upgrades. The recent Fusaka update aims to increase performance and support real-world asset platforms and decentralized finance applications. Observers note that this continued development keeps Ethereum positioned for wider institutional use as price moves toward higher resistance areas once again.

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