ETH Holds $2,680 After a Rough Shakeout: What Traders Are Really Watching Now

Ethereum just went through one of those moments that feels scary while it’s happening but oddly healthy once the dust settles. After a fast and aggressive selloff that wiped out overleveraged positions, ETH has managed to steady itself around the $2,680 mark. That level has now become the center of attention for traders trying to figure out what comes next.

This wasn’t the kind of drop driven by bad news or a sudden loss of confidence in Ethereum. It was more like the market taking a deep breath after pushing too hard, too fast.

A Classic Leverage Clean-Up

Before the drop, optimism was everywhere. Prices were moving up, long positions kept stacking up, and many traders were leaning heavily in one direction. When ETH couldn’t push higher, it didn’t take much selling to tip things over.

Once stops started triggering, liquidations followed quickly. Price dropped fast, not because everyone suddenly turned bearish, but because the market needed to clear out excess risk. These moves are uncomfortable, but they’re also common in crypto.

After the forced selling ended, ETH found its footing near $2,680.

Why $2,680 Feels Important

This level isn’t random. Ethereum has spent time here before, trading back and forth and building volume. That history matters because markets often remember where real buying and selling happened.

Since the flush, buyers have stepped in each time price dipped near this zone. That suggests genuine demand, not just short-term speculation. As long as ETH stays above this area, the bigger structure still looks healthy.

For many traders, $2,680 is the line between a normal pullback and something more serious.

If Price Slips Lower, Here’s What Matters

If Ethereum loses $2,680, attention will quickly shift to $2,600. It’s a clean round number and often attracts buyers looking for value.

Below that, the $2,520 to $2,500 area becomes critical. A move into that zone wouldn’t break the market, but it would suggest momentum is slowing and patience is needed.

Right now, these levels are more like safety nets than immediate targets.

What ETH Needs to Do to Turn Bullish Again

On the upside, Ethereum has some work to do.

The first hurdle is around $2,750, where price previously struggled. Getting above this level would signal that buyers are back in control.

A push past $2,800 would be even more meaningful. That would show the market has fully absorbed the recent selling and is ready to aim higher again.

Above that, the $3,000 area naturally comes back into focus, not because it’s guaranteed, but because psychology matters in markets.

How the Market Feels Right Now

After the chaos, things have calmed down. That’s usually a good sign.

Leverage has been reduced, funding rates look healthier, and the frantic energy has faded. Instead of panic selling, there’s quiet accumulation happening in the background.

Traders are more cautious now, but they haven’t lost confidence. The mood is watchful, not fearful.

What Different Traders Are Doing

Short-term traders are waiting for confirmation. Some want to see ETH clearly hold $2,680 before stepping in. Others are waiting for a breakout above $2,750 to reduce risk.

Long-term holders, on the other hand, aren’t too bothered. From their perspective, Ethereum is still above major support zones and the broader trend hasn’t been broken.

Everyone seems to agree on one thing: patience matters here.

The Bigger Picture

Liquidation flushes feel brutal in the moment, but they often reset the market in a healthy way. By clearing out excessive leverage, Ethereum now has room to move without being weighed down by unstable positions.

As long as ETH stays above the $2,600 to $2,680 range, the structure remains solid. Whether the next move is up or sideways, this phase is about rebuilding balance.

Ethereum didn’t fall apart. It shook off weak hands. Now the market is waiting to see who steps in next.
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