Ethereum (ETH) continues to fluctuate below the $2,400 level, unable to break through key resistance zones in recent weeks. While higher timeframe charts suggest the possibility of a broader upward formation emerging, the main challenge facing Ethereum remains the cluster of strong moving average resistances. Market analysts agree that if these barriers can be breached, a renewed push toward the $4,900 mark could quickly come into play.
Moving averages create major resistance
According to Daan Crypto Trades, who shared TradingView data, Ethereum has had difficulty staying above $2,400 on the weekly chart. The price has repeatedly failed to overcome the combined barrier created by the 200-day simple and exponential moving averages (200MA and 200EMA) and remains pinned below these critical resistance points. Historically, these moving averages have served as significant resistance when the price is trading beneath them.
Charts indicate that Ethereum is trading in a broad band between roughly $2,100 and $2,800. Despite recovering from the recent low near $1,750, ETH has so far failed to attract enough buyer interest to challenge the upper boundaries of this major resistance area.
For now, the $2,100–$2,166 range provides short-term support, while the $2,815–$2,851 band stands out as the closest significant resistance. Whether ETH can maintain its current technical structure will likely determine the direction of its next major move.
If the price climbs above $2,400, attention will return to the weekly 200MA and 200EMA; falling below $2,100 could undermine the recent recovery pattern.
Latest figures from CryptoAppsy confirm that Ethereum continues to trade below the $2,400 threshold. Experts largely agree that unless ETH can break through this zone, any upward momentum will remain limited.
Price formation signals $4,900 as next target
On TradingView, Ray’s analysis points to a major inverse head and shoulders formation developing on Ethereum’s three-day chart. This technical pattern is often seen as an early sign that buyers are regaining control following an extended correction phase.
The chart shows a rising trendline acting as strong support, suggesting Ethereum has formed a solid base for the longer term. After a steep pullback in 2025 shaped the left shoulder, the pattern’s head appeared in early 2026, and prices have since begun to recover, marking out the right shoulder.
Analysts are targeting $4,900 as the breakout objective for this formation—a level that coincides with all-time highs from a previous market cycle.
However, for this bullish scenario to materialize, Ethereum must first make a clear and convincing move above its upper resistance band. Failing to do so could result in continued sideways movement and an incomplete technical breakout.
In summary, Ethereum’s price is likely to remain volatile in the near term as it sits beneath critical resistance. On a medium- to long-term basis, upward signals persist, yet traders are advised to remain cautious until a decisive breakout is confirmed.
