Today’s Ethereum prices are trading nearly $2,244 after a volatile reversal from the $2,150 level. This rebound marks a key moment as ETH tries to hold above the 0.236 Fibonacci level ($2,026) weekly, following an early denial of nearly $2,620.
Price Action is currently sandwiched between the bear control zone and the main demand cluster, with the bull trying to regain the lost structure towards June 24th.
What will be the price of Ethereum?
ETH Price Dynamics (Source: TradingView)
On the weekly charts, Ethereum prices are below the Fibonacci levels of 0.5 and 0.618 ($2,744 and $3,066, respectively), but the current candles try to stabilize the 0.236 retracement at $2,026. Despite the higher macros, ETH was unable to close above 0.382 level ($2,424).
ETH Price Dynamics (Source: TradingView)
Meanwhile, in the daily time frame, prices are below the previously respected upward structure, and are currently retesting the lower bounds of wide descent parallel channels. Immediate support is $2,205, but the main overhead resistance is approaching $2,380 (Bulmarket Support Band and Super Trend Flip Level).
Why are Ethereum prices falling today?
ETH Price Dynamics (Source: TradingView)
One of the main reasons behind recent shortcomings is rejection from the stacked confluence zone, including the EMA100 ($2,435), EMA200 ($2,482), and the Bollinger Band midline ($2,360). Ethereum price action could not maintain above these dynamic resistance levels, and liquidation-based sales were sold to $2,120.
ETH Price Dynamics (Source: TradingView)
On the four-hour chart, the supertrend indicator remains a wimp, below $2,382, with DMI (directional movement index) showing an advantage for -DI at 52.87, with ADX rising above 39, suggesting a strong active trend in favor of sellers. BBP (Blue Bear Power) has also been negative since June 17th, confirming a wide range of daytime debilitating conditions.
ETH Price Dynamics (Source: TradingView)
The 30-minute chart shows slight divergence as nearly 35 RSI bottoms before recovering to 55.55. MACD crossovers are bullish, but still shallow, with prices continuing to cluster between $2,234 and $2,244 near VWAP and parabolic SAR levels.
Ethereum price volatility lasts within the bare flag channel
ETH Price Dynamics (Source: TradingView)
Short-term recovery attempts meet friction at the lower boundary of the previous rising wedge pattern. The Ethereum price spikes observed in the second half could be fully boosted, and the $2,448 breakdown zone is currently serving as a solid resistance. Unless ETH closes above this zone in volume checks, the chance of rising remains capped.
The 4-hour time frame bollinger band is still wide, but is beginning to compress slightly, which often precedes a volatility breakout. However, the candles print small, authentic bodies, reflecting indecisiveness among market participants.
Ethereum price update: Key zone to watch head to June 24th
ETH Price Dynamics (Source: TradingView)
If the Bulls are able to push beyond the $2,260-$2,280 short-term supply zone, Ethereum will retest $2,333 (EMA20) and aim for a confluence of potentially close to $2,380-$2,448. However, this requires a critical break above the volume support and the VWAP/SAR barrier.
ETH Price Dynamics (Source: TradingView)
On the downside, drops below $2,200 disable the current short-term recovery set-up and expose ETH to a $2,026 retest (0.236 FIB support and a major liquidity pocket). Below that, the next breakdown trigger is $1,958, followed by deeper structural support (monthly pivots and lower channel bands) of $1,880 and nearly $1,490.
Conflict signals can rise across the time frame, especially as the market approaches the last week of June. Ethereum price volatility is likely to continue to rise.
Ethereum price forecast table: June 24th
With prices pivot now, Ethereum needs to reclaim its $2,380 zone to verify a bullish reversal. Otherwise, if the short-term recovery breaks down, the weakened momentum will remain dominant, bringing the downside risk to $2,026.
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