Ethereum is approaching the upper boundary of a short-term downward channel and is once again testing a major resistance level at $2,375. In recent hours, the cryptocurrency’s price has hovered around this critical zone, with trading volume also on the rise. According to crypto analysts, should this resistance be breached, new short-term targets could quickly come into focus.
Analysts eye $2,375 resistance
Based on a chart shared by Ali Charts, Ethereum has reached the top of its channel on the four-hour timeframe. The $2,375 region stands out as the main resistance, while the $2,367 and $2,330 levels are also being monitored as important short-term decision points. Historically, price rejections from this channel top have led to frequent pullbacks, suggesting that failure to clear $2,375 could trigger a return to lower support zones.
The analyst notes that sellers have traditionally defended this area, dragging the price back to the lower band on several occasions. Without a clear breakout, the first downside targets are seen at $2,290 and $2,250, with the key support anchored at $2,210, as highlighted on the chart.
Ali Charts remarked, “If there’s a daily close above $2,375, we could see a short-term bullish breakout targeting $2,550, which represents a potential 7% move.”
Ethereum is currently in a decision phase. A close above the channel would signal a major breakout, while failure could renew selling pressure in the near term.
Short-term chart eyes $2,646 target
According to More Crypto Online’s analysis of the 1-hour ETHUSD chart, Ethereum is pressing against a descending resistance line in the short term. The trajectory of recent price movements indicates that the upper boundary could be breached, with ETH now trading close to the breakout zone.
The analyst forecasts that if buying momentum strengthens, price action may extend to the 100% Fibonacci extension target at $2,646. However, the broader market has yet to confirm any clear signals supporting this bullish advance.
On the downside, the first support region lies around $2,325, followed by further possible pullback points at $2,304, $2,284, and $2,256. A more pronounced sell-off could test the wider support range between $2,240, $2,178, $2,119, and $2,037.
More Crypto Online’s analysis summarizes, “Ethereum is at a decision level. Cleanly breaking above the resistance line could strengthen the bullish case, but a failed attempt might pull prices back to the broader support area.”
Clarity on the short-term outlook hinges on the behavior at the channel resistance and the descending trend line. If buyers gain the upper hand, upward targets will come into play, while sustained selling could see support levels retested.
