Ethereum price holds a five-year range as breakdown risk points to $950

From a market structure standpoint, Ethereum remains range-bound rather than trending. The inability to sustain higher highs or lower lows on a macro scale reinforces the idea that the market is still operating within a broader accumulation and distribution framework. While shorter-term trends have emerged at times, they have consistently resolved back into the same high-timeframe range.

Volume profile analysis provides further clarity. Ethereum has recently traded below the value area high, which represents the upper boundary of fair value within the current range. Acceptance below this region typically signals that buyers are no longer in control of value, increasing the probability of price exploring lower value areas. As price continues to trade beneath this level, attention naturally shifts toward the point of control, the price level where the most trading activity has historically occurred.

If Ethereum loses the point of control with strong conviction, defined by sustained acceptance and expanding volume below it, the market is likely to seek the next area of high liquidity. That area sits near the value area low, which coincides closely with the long-term range low around $950.

This type of move would not necessarily indicate structural failure, but rather a continuation of the rotational behavior that has defined Ethereums market for years.

Why $950 remains a critical level

The $950 region is technically significant for several reasons. First, it represents the lower boundary of the five-year range, a level that has previously attracted strong buying interest. Second, it aligns with the value area low, meaning it is a zone where demand has historically stepped in to rebalance price.

As long as Ethereum remains inside this extended range, rotations toward the value area low should be viewed as part of the broader structure rather than an outright collapse. However, the quality of the reaction at $950 will be crucial. For a sustainable bullish response to develop, the market will need to show clear bullish volume influxes, signaling that buyers are willing to defend value at that level.

If such demand appears, Ethereum could once again rotate higher within the range, targeting the upper resistance zone near the $4,700 region. This behavior would be consistent with prior cycles, where deep pullbacks into range support were followed by strong mean-reversion rallies.

Broader context and long-term implications

From a technical, price-action, and market-structure perspective, Ethereums prolonged range suggests ongoing indecision at the macro level. While this can be frustrating for trend traders, range-bound conditions often provide clarity for rotational strategies, where support and resistance become highly reliable reference points.

The persistence of this structure also implies that Ethereum may continue trading in this manner until a decisive breakout or breakdown occurs with strong volume and acceptance. Until then, moves toward both extremes of the range should be considered part of a larger equilibrium rather than trend-defining events.

Ethereum price action

As long as Ethereum remains below the midpoint of the range and key volume levels, downside rotational risk toward $950 remains elevated. A loss of conviction in the point of control would likely accelerate this move.