The volume profile on the right side of the chart displayed dense activity between $3,200 and $3,600. This region formed a strong high-volume node during prior trading periods.
The current price sat far below that cluster as Ethereum hovered near $2,978. The gap between the present level and the heavy volume region suggested fewer traded positions in the lower band. This area often creates efficient movement until the price reaches higher-liquidity zones.
A white projection line on the chart suggested a potential recovery path toward higher resistance bands. The line curved from the channel base toward the $3,200 region. It then extended toward the broader resistance range near $4,000.
The long trendline beneath the chart suggested historical support near $2,525. This level extended across multiple months and acted as a secondary cushion if the channel support breaks.