For Ethereum, everything now comes down to a single level: around $2,397. This area represents a key Fibonacci resistance and sits just slightly above the current price—meaning a move of only about 2% could determine the next trend.

A strong daily close above this level would confirm bullish momentum, potentially opening the door toward higher targets near $2,500. On the other hand, failure to break above it could validate the cautious stance from whales and derivatives traders.

If ETH gets rejected, support levels around $2,299 and lower could come into play. In short, the market is at a tipping point—and the next move could set the tone for weeks ahead.