As the Ethereum price approaches an important turning point according to technical analysis, two separate charts draw attention to critical resistance levels. In recent price movements, Ethereum has failed to surpass the $2,400 level, making the upward momentum limited for now. As both resistance and support zones become clear in the short term, investors’ eyes are on critical levels.
Looking for $2,400 hurdle and support at $2,250
Ethereum struggled to surpass $2,400 on the two-day chart. While the resistance at this level remained strong, the price was pulled down again. According to the charts, while buyers have not yet established a clear dominance, sellers still continue to put pressure. Currently, $2,250 stands out as the closest support point.
If the price can hold at $2,250, it may raise the possibility of Ethereum pushing $2,400 again. If this scenario occurs, the next targets will be the $2,624 and $2,780 levels. However, if the decline continues and there is a close below $ 2,250, $ 1,800 may come to the fore as a support zone.
Analysts commented, “Ethereum is still performing poorly in the short term, having been rejected once again in the $2,400 band. It is premature to talk about an upward move without protecting the $2,250 support.”
On the other hand, it is noteworthy that Ethereum is weaker against Bitcoin in the short term. Although the reversal signals have not become significantly clearer, the price has entered a partial recovery phase after the previous rapid decline. If there are minor corrections on the Bitcoin side, this may further push the Ethereum price down.
Ascending trend line and $2,679 wave target
Looking at the 4-day chart, the rising yellow trend line that Ethereum will reach soon is noteworthy. Experts state that the recent recovery has not turned into a strong trend and the price is still facing a long-term downward trend line. In particular, the $2,679 level stands out as the 100 percent target point of the C wave according to the Elliott Wave theory.
This target is positioned at the lower border of the resistance zone on the chart, which starts at $2,605 and expands to the upper Fibonacci point. When the price reaches this region, it is likely to encounter stronger selling pressure and the momentum will weaken for a while.
For now, the rise in Ethereum price is taking shape within the ABC formation, which started from the previous bottom. Although wave C is moving towards the resistance band, it is not clear at this stage whether the market will show a permanent breakout. If the price can test above $2,679, the $2,893, $3,031, $3,275, and $3,332 levels are the next targets on the chart.
In the short term, in order to say that Ethereum has definitely changed direction, both the yellow trend line must be tested and the current resistance band must be overcome. Unless these conditions are met, the resistance test comes to the fore in technical analysis and the upward trend does not seem to be finalized.
