Ethereum is trying to recover, but the $2,400 to $2,500 zone is preventing a strong trend change. Until then $ETH Even if you clear that range, the latest bounce will remain under pressure
Ethereum price tests $2,300 as weak spot demand points to a retest of $2,200
Ethereum was trading around $2,317 on the two-day chart, falling below the $2,400 resistance zone after a sharp rebound from April lows.
Ethereum / Tether US ($ETH/USDT), 2D timeframe. sauce: Ted Pillows of X
Here is the graph that Ted shared $ETH It is facing resistance near the $2,400 level. This level is currently the first major barrier for buyers. A clean break above this could pave the way to $2,624, followed by a broader supply zone around $2,780.
However, spot demand appears to be weak. This keeps the $2,200 support zone in focus. if $ETH After losing that area, the next lowest support is near $1,800, where the previous rebound began.
For now, Ethereum is located between support at $2,200 and resistance at $2,400. Bounces starting at $2,200 may be sent $ETH It will set you back towards $2,400. However, if buying pressure does not intensify, this move could fail before a larger recovery forms.
$2,400-$2,500 Range Defines Trend Reversal, Ethereum Faces Weekly Rejection
Ethereum closed near $2,309 on the weekly chart after being rejected by major resistance clusters including the bullish support band and the long-term moving average.
The chart shows that $ETH The weekly 200MA and 200EMA are in the range of $2,430 to $2,460, but cannot be exceeded. This area has been acting as a dynamic resistance level since the beginning of a broader downtrend last year. This rejection confirms that sellers are still in control of this higher time frame level.
Ethereum / USD ($ETH/USD), 1W timeframe. sauce: Daan cryptocurrency trading takes place in X
The price structure is as follows $ETH Although it has recovered from the $1,800 area, it has stalled below $2,500. Horizontal resistance near $2,850 remains intact, indicating a previous breakdown level. Until then $ETH Retrieving the $2,400-$2,500 zone keeps the market within a broader bearish structure on the weekly time frame.
Ethereum will need to continue closing above this range to shift leadership. If this happens, the price will break above both the bullish support band and the major moving averages. Without that, the current move remains a rescue rebound within a larger downtrend.
