Ethereum has recently tested a crucial support zone, with investors watching closely to see if buyers will step in during the current downward wave. The key area between $2,222 and $2,036 is considered critical support, while resistance levels have formed at $2,400 and $2,665 at the upper end of the price range.
Fragility at the support zone
Technical analyst Man of Bitcoin has highlighted Ethereum’s support area between $2,222 and $2,036, emphasizing the importance of this range in shaping the next move. Drawing parallels with Bitcoin’s recent chart patterns, he suggests establishing a solid bottom in this band would open the door for a new upward wave after a short-term correction, provided Ethereum can hold this range.
On the four-hour chart, Ethereum pulled back from a recent local peak at $2,380 and now trades around $2,311. According to the analyst, the drop so far represents a retracement phase. The primary support levels to watch are $2,222, $2,166, $2,111, and $2,036. If Ethereum falls below $2,036, there is an increased likelihood of a deeper move toward $1,755 or even $1,387.
“For now, Ethereum is undergoing a correction phase, and how strong buyers are at the support zone will determine the direction in the near term,” the analysis notes.
Analysts agree that the process appears to be a correction rather than a decisive breakdown. Should buyers react strongly between $2,222 and $2,036, selling pressure may ease and the price could begin targeting higher levels soon. Conversely, intensified selling could trigger steeper declines if this support does not hold.
$2,400 and $2,665 resistance levels
Another chart analysis indicates that, although Ethereum is currently moving above a significant buying wall, it faces tough resistance at $2,400 and $2,665. Recent price action suggests that passing through these upper resistance bands may not be easy for the cryptocurrency.
According to data from Binance’s hourly ETH/USDT trading pair, Ethereum’s fall to $2,317.50 signals a return to the main buying zone. The analyst known as CW describes this as a “buy wall” where buyers could regroup. However, it is also noted that Ethereum just recently failed to break through the resistance band above.
The initial strong selling barrier is situated at $2,400. This level currently poses a significant obstacle for any short-term upward moves. If Ethereum gains enough momentum to break through, the next major resistance zone is identified at $2,665.
CryptoAppsy data shows that at the time of writing, Ethereum is priced at $2,317.50. In the short term, whether the support line holds is being closely monitored. Should the buy wall deliver the expected response, a rebound to $2,400 is possible. However, if the support fails, the selling pressure is likely to mount further.
