While critical levels came to the fore in the Ethereum price, all eyes turned to the fluctuations in the ETH/USD pair in the cryptocurrency market. Latest data indicates that although the price may remain weak in the short term, it may form a positive setup in the long term. Ethereum has not been able to overcome the $ 2,400 level again, and the resistance zone remains important in recent technical analysis.
Price Stuck at $2,400 Resistance
ETH price failed to hold above $2,400 despite attempts in recent days. Daily charts shared by analyst Ted show that Ethereum fell to $ 2,336 and could not break the resistance zone between $ 2,400 and $ 2,430 for a while. This area had been operating as a key obstacle since April. Since buyers could not move the price above this level, temporary increases could not provide permanent support.
A daily close above $2,430 is required for Ethereum to gain strength for the upward move. If this happens, 2,624 and then the $ 2,740 to $ 2,800 range stand out as the next targets.
According to Ted, the fact that the demand for crypto money in the spot market is still weak prevents the recent rises from gaining momentum. This caused Ethereum to lose strength again instead of breaking through the resistance zone. On the same chart, there is a support area marked between $2,160 and $2,200. If ETH fails to rise above $2,400, sellers may push the price towards this support. In the event of a stronger decline, attention is drawn to new support points at the $ 1,740 and $ 1,800 levels.
Although there are short-term declines in Ethereum, long-term charts indicate that the groundwork may be prepared for a larger-scale rise.
Despite the rebounding price action in April, ETH has yet to break through major resistance levels. The $2,400 level is in a decisive position in the new direction.
Bullish Signals and $4,900 Target in the Long Term
In the analysis made on a weekly basis, it was shared that the price is still close to the $ 2,335 level. According to the long-term charts published by analyst Ray, the possibility of an upward formation in Ethereum is increasing. This formation stands out as a bullish reverse head-and-shoulders pattern. The first shoulder after the top in 2025, then the head at a lower low, and now the right shoulder is in the process of forming with a new upward move.
The completion of the inverted head-and-shoulders pattern indicates that selling pressure may turn to the buying side. However, for this pattern to be valid, the price must remain above the current ascending main trend line and break through the designated resistance zone.
Experts state that the first big target is the $ 4,900 level. This price corresponds to the previous peak, and if Ethereum reaches this range again, it will mean that the main bullish zone has been retraced. Moreover, although a rise up to $8,300 is predicted in the future, $4,900 must first be clearly crossed for this.
As long as the price remains above the ascending trend line, the structure is expected to maintain its positive outlook. However, if it falls below this line, the upward trend may weaken. Here, the $4,900 level stands out as the critical threshold.
In summary, although the Ethereum price remains under pressure in the short term, technical analysis shows that it has the potential to rise again in the medium and long term. The direction of the price movement is expected to be determined by the $2,400 and $4,900 limits.
