Ethereum (ETH) has repeatedly failed to break through the $2,400 resistance level over the past two trading sessions, according to a two-day ETH/USDT chart shared by market analyst TedPillows. The chart shows buyers stepping in around $2,369, but selling pressure above $2,400 continues to cap gains. TedPillows noted that until this level is convincingly breached, it is too early to talk about sustained strength on the Ethereum front.
The zone between $2,400 and $2,470 stands out as the most significant near-term resistance. A decisive move above this range could open the door to targets at $2,624 and then $2,800. However, failure to break higher may trigger increased selling pressure. Analysts point to the $2,140–$2,180 zone as the first major support, with deeper declines potentially sending ETH to $1,780 or even $1,693 if bearish momentum accelerates.
Triangle Formation Points to Volatile Move Ahead
Weekly ETH/USD data shared by market watcher Sky shows Ethereum trading at $2,378, consolidating just below the horizontal resistance near $2,400. An ascending trendline providing lower support has created a classic triangle formation on the charts. Sky highlighted that this pattern typically precedes a major breakout, with volatility expected to increase. A weekly close above $2,400 could shift the structure significantly and bring upward targets back into play.
If the triangle breaks to the upside, Ethereum could test $3,000 within weeks, although confirmation of the breakout is still pending. Fibonacci analysis identifies $2,943 as an interim level, with the next major resistance band between $3,328 and $3,965. However, sustained bullish momentum depends on Ethereum clearing the $2,400 mark convincingly. Technical indicators also show headwinds: the red moving average at $3,080 sits near resistance, meaning even short-term rallies could trigger fresh selling.
Ethereum's price continues to oscillate between $2,140 and $2,400, with investors waiting for a clear directional move. The $2,400 level remains the key battleground for bulls and bears.