Ethereum prices have attempted to rebound after regaining the $2,620 level, but some overhead resistance and weak volume momentum continue to cloud the short-term direction. Despite a strong bullish impulse from the local demand zone, the wider structure remains neutral within the tightening range.
What will be the price of Ethereum?
ETH Price Dynamics (Source: TradingView)
Today, Ethereum prices are around $2,628, up over 3% over the last 24 hours. This recovery appeared after it bounced off a build-up block with prices between $2,517 and $2,540.
This Ethereum price update suggests that the bounce was driven by the bullbreaker structure on the 4-hour chart, and has been confirmed by a BO (structure breakdown) above the $2,600 minor resistance. However, the daily trendline from early June remains undamaged, rising to nearly $2,710, with multiple indicators suggesting ongoing momentum.
Ethereum Price Action is built towards a critical breakout
ETH Price Dynamics (Source: TradingView)
Now, Ethereum Price Action is approaching the 50 EMA on the 4-hour chart, close to $2,635. Price is currently collecting both 20 and 100 EMAs and approaching the upper bollinger band for $2,610, signaling short-term bullish intentions. Daily charts show ETH bouncing off the 0.618 Fibonacci level ($2,523). This served as a dynamic support zone.
ETH Price Dynamics (Source: TradingView)
The volume remains medium, the obv is higher and demand has improved, but not a critical surge. Recent Ethereum price volatility has been curtailed, with the ATR holding approximately 14.8 over the 30-minute time frame. This suggests that breakouts are only possible if the candles expand and prices are maintained above the 2,640-2,680 zones with high relative volumes.
On the liquidity front, the four-hour SMC chart reveals that Ethereum recently wiped out its small liquidity pocket of nearly $2,540 and is now trading just under its previous EQH. However, the major buy-side liquidity pool remains close to $2,785-$2,810, suggesting that the Bulls still need to prove their strength to regain the high.
Momentum and volume indicators show bullish divergence
ETH Price Dynamics (Source: TradingView)
The fantastic oscillator (AO) turns green again, printing a rising histogram bar, and the BBP (Bull and Bear Power) reads at 115.98, indicating that the buyer strength has suddenly returned to the ground after the expanded integration phase.
ETH Price Dynamics (Source: TradingView)
On-chain and money flow indicators also support this push. The MFI (Money Flow Index) is approaching 64, and the CMF (Chaikin Money Flow) reverses decisively positively at +0.33, suggesting a stronger capital inflow.
ETH Price Dynamics (Source: TradingView)
The Directional Motion Index (DMI) shows a trend of enhanced strength when +DI (35.78) exceeds –DI (29.71), while ADX is still below the strong directional movement threshold.
ETH Price Dynamics (Source: TradingView)
Importantly, the 30-minute chart supertrend has turned green from $2,584, continuing to support a continuous recovery. Supertrend shifts confirm short-term bullish bias as long as prices exceed $2,600. This shows a consistent dot under the candle, increasing bullish emotion.
Why are Ethereum prices rising today?
ETH Price Dynamics (Source: TradingView)
Ethereum prices are rising mainly due to liquidity and smart money rearrangements, mainly due to aggressive demand between $2,517 and $2,540. The combination of bullish SMC structure, Keemus destruction, and momentum rise indicators explains why Ethereum prices are rising today.
ETH Price Dynamics (Source: TradingView)
However, this rebound remains within the midrange structure. Ethereum will need to flip between $2,700 and $2,735 at a day’s closing, which exceeds 0.236 FIB ($2,745) to confirm a macro breakout. Without this, as part of the ongoing integration, prices could be returned to the support bands ranging from $2,580 to $2,540.
Ethereum price forecast and key levels for June 17th
Ethereum’s price recovery is constructive, but unless Bulls regained a higher time frame resistance at $2,735, it would remain within its vulnerable range. Until then, ascending rallies may face repeated rejections, but the demand zone continues to function as support around $2,540.
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