Ethereum ($ETH) is continuing to trade within a consolidation window between the levels of $2,327 and $2,789 without confirming an exit yet.
The support currently near $2,327 is now holding, and once this support breaks, potential downside targets may be found at $2,104 and the $1,753 zones.
Upside resistance restraints at 3,965 and 4,093 will not be tested unless ETH clears 2,789.
Ethereum (ETH) is trading at $2,444.80, marking a 4.1% decline over the last 24 hours. The asset continues to hover inside a long-standing consolidation zone. Price action remains contained between $2,327 and $2,789, with that level having been in existence since early May. That level continues to control Ethereum's short-term structure, offering support and resistance levels within an extremely tight corridor.
On the most recent daily close, Ethereum remains above $2,389.71, a short-term support level that remains key to ongoing bullishness. Buyers are closely observing whether ETH can resist below this daily support level.
Ethereum Holds Key Support as Range Tightens
Over recent weeks, Ethereum’s price has repeatedly tested the bottom and top boundaries of this zone. The $2,327 level has acted as a daily structure level. So far, ETH has defended this level, maintaining higher lows in the process.
Source :(X)
The resistance lies in the uptrend at around 2,789, a horizontal zone where bulls have been held back. Continued breakout above this level might herald the opportunity of a retest of prior highs, but no confirmation points towards this as yet.
However, if Ethereum records a close below $2,327, then market focus may shift to the next support targets. These levels include $2,104, followed by the lower support region between $1,848 and $1,753. This area previously marked the bottom of the March correction.
Resistance Above and Higher Targets Remain Unchallenged
While Ethereum remains in a defined zone, upside targets are already being noted by analysts. Price levels at $3,965 and $4,093 remain key long-term resistances. These zones reflect the last meaningful highs before the correction that began in March.
Until ETH exits the current range, those higher resistance levels remain inactive. Notably, Ethereum has already cleared the downward trendline that began last December. However, despite this technical shift, price remains capped under $2,789, preventing broader continuation. For now, the short-term market will likely react to moves around $2,327. A close above or below this zone could drive the next market decision.
