Ethereum Stalls at Key Apex, $3,200 Rejection or $2,900 Support?Ethereum / TetherUSBINANCE:ETHUSDTThe_Alchemist_Trader_Ethereum’s current price action is compressing into a critical apex zone, where dynamic support and resistance are converging. This type of structure often precedes an expansion in volatility, but at this stage, price remains range-boundrather than directional. ETH is currently trading near the middle of the range, an area that also aligns closely with the Point of Control, highlighting ongoing balance between buyers and sellers. Importantly, there is no confirmed breakout yet. For a directional move to be validated, Ethereum will need to break out of this apex with strong bullish or bearish volume expansion. At present, the volume profile shows declining participation, suggesting that market participants are waiting for confirmation rather than committing aggressively. This lack of volume reinforces the idea that price is still consolidating rather than trending. Key Technical Observations: - ETH is trading inside an apex compression zone - Price is hovering near the Point of Control - Volume remains muted, signalling no breakout confirmation In the immediate short term, one potential scenario is a rejection from the $3,200 resistance, followed by a rotation toward $2,900 support. This $2,900 region is technically significant, as it aligns with the 0.618 Fibonacci retracementand Point of Control confluence. Until Ethereum breaks out of this apex with volume, rotational price action within the range remains the higher-probability outcome.