Ethereum holds above $2,450 with hidden bullish divergence, signaling momentum may soon catch up to price strength.
The rising channel from mid-May shows repeated rebounds near $2,460, with bulls defending structure ahead of a $2,600 breakout test.
Market gurus see a breakdown in case ETH crosses $2,800 with minimal resistance up to $3,400 and volume dynamics more supportive of long-term rises.
Ethereum remains robust against market instability, and price action continues to confirm a favorable trend across different time frames. Recent technical reports suggest the pullback may turn out to be short-term, with structural support intact.
Hidden Divergence Points to Uptrend
On Ethereum’s 12-hour chart, analysts highlight a hidden bullish divergence. While the Relative Strength Index (RSI) made lower lows, Ethereum formed a higher low, typically a signal of trend continuation. Merlijn The Trader notes that between May 20 and June 6, the price stayed above $2,457 even as RSI declined, indicating potential for a renewed move higher.
<embed> https://x.com/MerlijnTrader/status/1931320237930213484 <embed/>
He adds that Ethereum’s trading range between $2,100 and $2,900, with repeated wick rejections, reveals underlying demand. Despite a temporary weakness in momentum indicators, the price held firm. The June 5 bounce from $2,457 aligned with the RSI’s lowest reading, reinforcing the view that hidden strength may soon emerge.
Channel Structure Reinforces Bullish Setup
Ethereum’s 4-hour chart adds further support to the bullish case. Analyst Crypto Fella identifies a rising parallel channel since May 15, with Ethereum respecting a key trendline, retested successfully on June 6. The asset swept liquidity near $2,440 before rebounding sharply, reaffirming strong support.
Source: (X)
Price action has seen repeated tests of resistance near $2,850, forming local double tops, but remains within the channel. The formation of a corrective higher low near $2,460 suggests potential upside if Ethereum clears $2,600, with $2,700 as the next target.
Structure Holds Strong, Market Sentiment Builds
The broader structure remains intact, with Ethereum forming higher lows and holding above its rising trendline near $2,460. Dips into the $2,440–$2,460 support zone have consistently triggered bullish responses.
The trading range between $2,440 and $2,850 continues to define market behavior. As long as Ethereum holds above trend support and pushes through $2,600–$2,750, momentum favors the upside. Consolidation near the upper channel boundary signals growing breakout potential.
Analyst Sentiment Remains Bullish
Market watchers on X increasingly view Ethereum as a buying opportunity. Many point to sustained strength above $2,450 and eye a breakout past $2,800, which could open the path to $3,400. Rising volume and wallet activity further support a long-term bullish case. If Ethereum clears current resistance, analysts believe a major leg higher could follow.
The post Ethereum Holds $2,457 Support while Bullish Divergence Builds—Analysts Eye $2,700 Next appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
