Ethereum has turned higher from a support area near $2,225, and the original analysis says a daily close around current levels could complete a bullish Morning Star reversal pattern. On that view, the next upside target is $2,400.
A stacked support zone formed around $2,225
The rebound began from a cluster of technical supports. The source points to the key $2,225 level, described as the former low of impulse wave I from late April. It also highlights the support trendline drawn from February, the lower daily Bollinger Band, and the 38.2% Fibonacci retracement of the upward move that started in late March. With several signals lining up in the same area, that zone became the main spot to watch for a reversal.
After bouncing from that region, Ethereum is now in position to form a Morning Star on the daily chart. That pattern is commonly read as a bullish reversal signal. The setup is not confirmed on its own, though. The article makes clear that the candle structure depends on where the market closes for the day, specifically if price finishes near current levels.
$2,400 remains the next resistance level on the chart
The source argues that Ethereum can rise toward $2,400, citing the broader multi-month uptrend and the strong bullish tone seen across crypto markets on the day of publication. This level matters because it has already acted as resistance since April, making it the next clear upside test if the rebound holds.
In practical terms, the chart setup is centered on two levels. Support is defined by the confluence around $2,225; resistance sits at $2,400. The article treats the latest move off support as a buy signal from a technical-analysis perspective, while also framing the target as a retest of an already established resistance area.
The source also states that the piece reflects the author’s view and is not investment advice.