Ethereum continues to struggle under a key weekly resistance area, repeatedly getting pushed back as upward momentum stalls. Analyst Moe reports that the current price behavior strongly resembles the structure seen before the prolonged and sharp downtrend following a failed breakout months ago.
Another rejection at resistance
According to the analysis, Ethereum remains trapped beneath a prominent resistance band not far from its current price. A recent attempt to break past this zone, marked with a blue circle on the chart, showed that buyers could not firmly establish control above the resistance. Moe points out that a similar scenario unfolded previously: after briefly piercing the resistance, Ethereum reversed direction and lost ground.
This comparison suggests that if sellers continue to defend this resistance, Ethereum may follow a similar downward trajectory. The weekly chart’s highlighted red projection indicates that confirmation of this bearish pressure could lead to a prolonged correction phase for the cryptocurrency.
Moe identifies the immediate green resistance zone above current prices as a crucial threshold for Ethereum. If ETH manages to clearly break through this area, the risk of a new decline could diminish. However, another rejection around this zone would keep downside risks firmly in play.
Room above: potential for revisiting higher prices
Nevertheless, the analysis also acknowledges that, despite the recent slump, Ethereum might still have a shot at retesting higher price levels. The chart highlights candle structures near local peaks with notably short upper wicks. Moe suggests that such areas, where price failed to hold for long before retreating, could later serve as targets for renewed attempts.
Glossary: A wick on a candlestick chart shows the highest or lowest levels reached during a session, beyond the open and close price. A short upper wick means price could not remain high for long, but this region might be revisited in future moves.
The analysis compares two similar price patterns from recent market cycles. In both cases, Ethereum rose to form a local peak but quickly surrendered momentum, resulting in steep corrections. The blue-circled areas on the chart highlight these repeated technical signals Moe draws attention to.
Short-term pressure, long-term targets
Red arrows on the weekly chart signal that a further pullback may be possible before the next broad recovery can take place. In a previous instance, price also dropped sharply before returning to upper levels, reinforcing the point that there is no clear trend direction at present.
Technically, Ethereum remains weak after slipping below multiple key support levels. However, the analysis notes that if buying momentum returns, regions near previous swing highs could once again serve as targets. While short-term downside risk is dominant, the presence of untested price gaps above suggests a future rebound cannot be ruled out.
