Ethereum price remains stable around $2,300 after fluctuating movements during the day, holding above recent lows. According to the latest data, Ethereum is trading at $2,329 with a 1.39 percent retracement. CryptoAppsy According to the data, this price appears to be stuck below the resistance line, although it maintains an important structure.
Technical indicators are creating pressure
Examining the daily chart, Ethereum price seems to be based on a significant resistance zone between $2,350-2,400. This level coincides with the upper limit of an upward triangle and stands out in technical analysis as the point where pressure increases. Crypto analysts, who have previously pointed to this region, draw attention to this range for the short-term direction of the price.
In particular, the TD Sequential indicator giving a potential sell signal at this level reveals the risk of stagnation or withdrawal in the short term. In the past, the Ethereum price was rejected several times in the same region and turned to support areas again.
The Ethereum price getting stuck at this resistance again is considered by market participants as creating significant pressure for a possible breakout. It is considered critical for the price to exceed this limit for the continuation of the rise.
Investors comment that the positive structure remains intact as long as the price remains above the rising trend line. If the $2,400 resistance is exceeded, it is stated that there may be a new upward wave up to $2,600 in the short term.
Trend reversal and new buy zone discussions
Analyzing the price movements, it seems that Ethereum has initiated a new bounce by maintaining the strong demand zone between $ 2,000-2,100. Market analysts who follow this situation closely state that the retesting of short-term resistance levels indicates a weakening of selling pressure.
Another element that stands out on the charts is that the price created a threshold reaction around $ 2,200 in the short term. If this bullish momentum strengthens and the price stays above the trend line, the next resistances are expected to form at the $2,400 and $2,600 levels. Otherwise, the price may retreat towards $2,000 again.
Does the same cycle repeat?
Developments in the Ethereum price stand out with sharp upward moves after an accumulation period lasting approximately two months. In previous similar periods, rising movements after accumulation blocks had enabled the market to revive.
In the last cycle, there was a long period of consolidation in the $2,000–2,200 range. If the current formation continues and the resistance zone is overcome, the price movement is likely to accelerate towards the $2,400-2,600 band.
Ethereum network is growing, functioning is getting stronger
Transaction volume continues to increase on the Ethereum blockchain. In the first quarter of the year, the network showed a remarkable growth trend, exceeding 200 million transactions on a quarterly basis. According to experts, this increase shows that there is a real demand for network usage, although the price is still stuck in the resistance zone.
While price pressure continues in the market, increased transaction volume generally indicates periods of “quiet accumulation”. In other words, even if the price remains horizontal in the short term, active use of the network may have an upward effect on the price in the future.
In the general view, the medium-term course of Ethereum will be determined by its reaction to the resistance area in the $ 2,350-2,400 band. If persistence above this level is achieved, bullish expectations may strengthen; Otherwise, the price may retreat to lower support zones again.
