Ethereum is stuck below the same $2,400 resistance that has hampered its recent recovery, but Ted Pillows and Sky charts show a tighter setup forming around that level. A clean breakout could pave the way to above $3,000, but another rejection could occur. $ETH Back towards the lower support zone.
Ethereum price stalls below $2,400 as downside risks increase
Ethereum traded near $2,369 in two days $ETH/USDT chart shared by TedPillows. The chart shows that $ETH Despite Bitcoin showing stronger price action, it failed again near the $2,400 resistance zone.
Ted Pillows said Ethereum will remain weak until it breaks above $2,400. This chart supports that view. $ETH I tested the same red resistance area several times and did not see any breakouts.
Ethereum $2,400 resistance chart. sauce: Ted Pillows of X
The closest resistance is around $2,400 to $2,470. For stronger breakouts, $ETH Clear this zone and hold above it. Then, the next significant level appears around $2,624, followed by a larger resistance zone around $2,800.
However, the chart also shows the downside risk if Ethereum fails again. The closest support is around $2,140 to $2,180, marked by the green zone. if $ETH Once below that area, the next major support will appear around $1,780 and the lower level will be marked around $1,693.
The white arrows on the chart indicate several possible paths. One path shows $ETH It will break above $2,400 and move towards $2,624 and possibly $2,800. another path will be displayed $ETH We reject the exit from the current zone and retest the support near $2,140.
As of now, the strength of Ethereum has not been confirmed. The price is still trapped between support near $2,140 and resistance near $2,400. A clean break above $2,400 would improve the short-term structure. However, if another rejection occurs, the pressure on the lower support zone can increase.
Ethereum Triangle Pattern Spots Breakout at $2,400
Ethereum traded around $2,378 for the week $ETH/USD chart shared by Sky. The chart shows that $ETH The price is approaching horizontal resistance near $2,400, while an uptrend line is supporting the price from below.
Skye said that a “legendary pattern” is forming in Ethereum. The chart shows a triangle setup, with price continuing to move into a narrower space between rising support and flat resistance.
Ethereum triangle breakout chart. sauce: Sky on X
The key level remains $2,400. $ETH has tested this area but has yet to see a weekly breakout. A clean break above that line could change the structure of the chart and pave the way for higher goals.
The chart shows the next major zone between $3,328 and $3,965 based on the Fibonacci levels shown. Another level near $2,943, close to the $3,000 area mentioned in this post, also appears on the chart.
Skye said $ETH If it breaks out of the triangle, it could move above $3,000 within a few weeks. However, you should check the chart first. Until then, the pattern remains a setup and not a full breakout.
The moving averages are also showing resistance above the price. The red moving average is near $3,080, but the current price remains below it. In other words, $ETH It could face pressure even after a short-term breakout.
For now, Ethereum remains trapped below $2,400. A weekly close above that level could support a move to $2,943 and the $3,328 to $3,965 zone. However, another rejection may be sent. $ETH We move back towards the uptrend line support.
