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Ethereum pulled around 14% from last week in May, but surpassed its important $2,400 support zone. Despite recent volatility across the crypto market, ETH’s ability to protect this level continues to make hopes live up to potential recovery. Analysts are closely watching Ethereum’s next move. The assets are still well below the annual high, offering room for upside down if momentum returns.
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Ethereum has been facing a sharp decline in intense setups and an inconsistent follow-through since the beginning of this year. However, many believe that ETH is becoming more and more likely to recover from lost ground. I hope the Bulls can regain their $2,800 resistance and support them. A breakout above that level could open the door for a wider Altcoin rally.
Top analyst Big Ched has placed emphasis on the current structure, noting that Ethereum weekly charts printed consecutive candles with the fourth small body. According to Cheds, ETH may suggest that “still looks at the top of the tower” Trend shift It may have been formed.
Ethereum holds the ground as the Bulls face critical resistance
Ethereum was able to hold strong beyond key support levels despite market-wide pullbacks and volatility over the next few weeks. Trades beyond the $2,400-$2,500 zone, ETH shows resilience, but many altcoins have lost momentum. This range has become a key battlefield, with the Bulls currently requiring a clean breakout beyond the $2,800 mark, confirming their return to bullish stage and likely to raise their next leg.
However, for now, the technological structure remains intact, but macroeconomic headwinds are being built. The US Treasury yields continue to rise as the market supports long-term, high interest rates, showing a more severe financial position first. Combined with ongoing geopolitical uncertainty and declining global growth expectations, these factors continue to place emphasis on risk assets, including crypto.
In addition to his careful tone, top analyst Big Ched recently emphasized that Ethereum’s weekly momentum is weakening. According to ChedsETH is heading for the weekly candles of small bodies for four consecutive times. This is a signal of indecisiveness that usually precedes a major move. He notes that the current setup looks like a pre-tower top. This is the formation of a classic bearish that often shows fatigue at the top of the trend before sharp inversions.
This will mark Ethereum’s important time. A critical breakout of over $2,800 will negate bearish scenarios and bolster cases of recovery to the $3,000-$3,200 range. On the other hand, sales pressure can be updated if continuous weakness and failure to develop traction, especially when macro conditions deteriorate.
Ethereum will be traded within tightening range, so the coming weeks will be very important. Whether the Bulls are able to flip resistance or the endurance can regain control could potentially head towards Q3 in the direction of ETH and the wider Altcoin market.
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ETH recovers short-term support but faces overhead pressure
Ethereum is trading at $2,539 on the four-hour chart, showing a modest rebound of +1.86% for the day. After a short time below 200 SMA ($2,511), ETH has recalled this key level and is currently pushing towards a cluster of short-term moving averages, including 34 EMA ($2,528), 50 SMA ($2,543), and 100 SMA ($2,565). This region represents immediate resistance, and how ETH responds here may determine the next short-term trend.
Since early May, ETH has been trading over a wide integration range of $2,400-$2,800. Recent price action suggests continuous indecision, with lower highs formed near the 200 SMA, retaining strong support. The volume remains relatively restrained, indicating no strong-directed convictions.
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For bulls, exceeding and holding 100 SMAs is important to get out of current range and targeting areas between $2,700 and $2,800. On the downside, a loss of 200 SMA could lead to a quick $2,430 retest, potentially leading to a deeper drawback.
Dall-E special images, TradingView chart
