Ethereum(ETH) is holding below $2.7K after rejecting near $2.8K, leaving $2.4K support and a rising trendline central to the next move. Key Points: ETH recovered from its June low near $1.5K
Ethereum(ETH) is holding below $2.7K after rejecting near $2.8K, leaving $2.4K support and a rising trendline central to the next move.
- ETH recovered from its June low near $1.5K and broke above $2.4K, but buyers failed to sustain a push near $2.8K.
- Daily support sits around $2.4K, while the shorter-term chart places immediate support near $2.5K and resistance around $2.7K.
- Transaction counts recently rose from about 1.6M to above 2M, although activity eased during the latest price recovery.
Ether recovered sharply from its June low near $1.5K, then broke above the $2.4K level that had previously capped gains. The advance stalled near $2.8K.
On the daily chart, the latest candles showed ETH pulling back around $2.68K after failing to establish a sustained breakout above the resistance band near $2.7K. That keeps $2.4K in focus.
The 100-day and 200-day moving averages are converging near $2.1K, and the analysis said a bullish crossover could signal longer-term improvement after months of bearish price action. That crossover has not happened yet.
On the four-hour chart, ETH was around $2.65K, between $2.7K resistance and a bullish order block near $2.5K, while the rising trendline points toward $2.3K-$2.4K. A break above $2.7K would put $3K back in focus, while a loss of support could shift attention toward $2.2K-$2.3K.
Also Read:Bitcoin ETFs Hit $2.39B Week As Crypto Fund Demand Broadens
Shayan Markets also highlighted a divergence between Ethereum's price and network activity after transaction counts recovered from roughly 1.6M to more than 2M. Activity then declined as ETH climbed toward $2.6K, which the analysis interpreted as a possible sign of increased holding rather than short-term trading.
The four-hour RSI has fallen below its mid-range after reaching overbought territory during the September rally. That reading supports a consolidation view.
The author argued that Ethereum's medium-term structure remains constructive, but the bullish case still depends on support holding and resistance eventually breaking. Macro shocks remain a separate risk.
The current setup follows a recovery from roughly $1.5K in June, a break above former $2.4K resistance and a September rally that briefly carried ETH toward $2.8K. That sequence produced a pattern of higher lows along the rising trendline, while the price also reclaimed a level that had previously acted as resistance. The breakout above $2.7K remains unconfirmed.
Read Next:Gold And Silver Sink $1.05 Trillion With Dollar And Yields Rising
