$ETH is currently consolidating after a strong impulsive move upward, which shows buyers are still active but momentum has slowed near this supply zone. The rejection wicks from the top indicate selling pressure around 2030–2040, making this a key resistance area to watch.
Right now, price is ranging just below resistance, which usually leads to a breakout or a short-term pullback. If ETH breaks and holds above this zone, we can expect continuation towards higher levels. However, if it fails to reclaim, a retest of 2000–1980 support is likely before the next move.
Overall, trend remains bullish, but patience is key — wait for confirmation of breakout or dip before entering.