Ethereum Price Analysis: ETH Jumps 3% in an Hour – What Comes Next?

Ethereum rebounded to about $2.46K after slipping toward $2.38K, leaving the cryptocurrency just above a $2.36K–$2.44K demand zone and the lower boundary of an ascending channel on its daily chart. The 50% Fibonacci retracement of Ethereum's advance from roughly $1.87K to $2.81K is near $2.34K, placing key support around $2.34K–$2.36K. On the four-hour chart, lower highs pressing into that demand area and sharp rebounds from $2.32K–$2.34K formed a falling wedge, a pattern that can precede recovery but whose upside breakout remains unconfirmed. Whale-sized spot average order readings reappeared near $2.4K after a period dominated by normal-sized orders, though average order size does not show trade direction.