Ethereum Near Key Support: Ready to Bounce to 2,900?

ETHUSD is approaching a significant support level, marked by historical price reactions and strong buying interest. This area has consistently acted as a key demand zone, signaling the potential for a bullish reversal if buyers regain control.

If the price confirms a rejection within this demand zone, I anticipate an upward move toward the 2,900 level, which aligns with a key resistance area and a logical retracement point. The confluence of the demand zone, volume profile support, and long-term trendline strengthens the case for a bullish bounce.

Traders should monitor for bullish confirmation signals, such as bullish candlestick patterns, higher lows, or increasing volume near the demand zone, to validate potential long positions.