$ETH just slipped from $2,122 to around $2,094, showing short-term weakness after failing to hold the intraday highs.

On the lower timeframe, the structure is currently forming lower highs, which suggests sellers are controlling the short-term momentum. The rejection near $2,120–$2,130 confirms that this zone is acting as immediate resistance.

Key levels
• Resistance: $2,120 – $2,130 (recent session high)
• Minor resistance: $2,100 psychological level
• Support: $2,060
• Stronger support: $2,040

Right now the market is trading below the $2,100 area after the quick drop. If price attempts a bounce, the $2,100–$2,120 region will likely act as the first supply zone where sellers may step in again.

Order book structure also supports this view. There is thicker ask liquidity between $2,120 and $2,150, meaning a cluster of sell orders waiting above. On the downside, bids are relatively thin until $2,050, with stronger liquidity sitting closer to $2,000. This imbalance creates a short-term resistance bias, where upward moves may struggle unless strong buying pressure clears those offers.

From a higher timeframe perspective, #Ethereum still sits in a broader bullish secular trend, but the daily structure is currently corrective after the recent highs. Price action looks more like distribution and consolidation rather than a fresh impulse move.

So the short-term view is simple:
• Rallies into $2,100–$2,120 may face selling pressure.
• If $2,060 breaks, the next reaction zone is around $2,040.
• A reclaim above $2,130 would shift momentum back to bullish intraday.