Ethereum is holding below $2,281 after its Saturday recovery lost momentum, with the coin trading near $2,245 as sellers maintained firm control over the $2,264 to $2,281 resistance zone. Despite an earlier bounce, Ethereum failed to surpass key short-term moving averages, signaling that the recent upside has yet to confirm a shift in trend. The immediate focus now turns to whether buyers can defend support around $2,250.
Resistance Holds, Recovery Stalls
Technical resistance remains concentrated near $2,263.73 and $2,281.12. Only a decisive move above these levels would suggest that a more sustainable recovery is developing. For now, Ethereum continues to trade below both its short-term simple and exponential moving averages, reflecting subdued sentiment from recent trading sessions.
Saturday’s price action was largely confined to a $2,240 to $2,245 range. Broader risk markets remained under pressure due to weakness in technology stocks and concerns surrounding employment data, which dampened appetite for risk assets. Although buyers managed to halt a deeper drop, they struggled to reclaim the overhead resistance zone.
Support at $2,250 Amid Bitcoin Weakness
Ethereum’s stability around the $2,250 mark has drawn the attention of analysts, especially after Bitcoin set a new low over the weekend. This divergence has prompted some market observers to question whether Ethereum may be showing relative strength compared to the wider crypto market.
Crypto analyst Ted observed that Ethereum continued to defend the $2,250 support region while Bitcoin recorded fresh lows. He described this as a constructive sign but emphasized that ETH still needs to clear resistance before any broader recovery can be validated.
Another analyst, Aiden, highlighted the $2,205 to $2,172 range as a critical buyer support zone. He pointed to $2,300 as an initial sign of improved momentum, with $2,409 noted as a higher target if the recovery gains strength.
Whale Accumulation Near Support
On-chain data indicated notable buying activity from large holders during the recent price softening. Trackers reported that a single whale acquired roughly 13,077 ETH, valued at about $29.95 million, over the past week. The latest addition was 3,300 ETH for approximately $7.41 million. Market watcher Hupzy shared this accumulation two hours ahead of the latest updates.
The buying occurred in several tranches rather than a single block, signaling persistent dip demand. However, this activity has not yet been enough to lift Ethereum above the $2,281 resistance band.
Amid these rapid accumulation events and narrowing trading ranges, monitoring live whale activity becomes critical for those trading ETH at key resistance and support levels. CryptoAppsy’s on-chain tracking and real-time price alerts enable traders to spot large volume movements and price reactions as they occur, empowering users to stay in sync with market-moving whale actions.
Key Levels for Ethereum’s Next Move
Market strategists remain divided on the direction of Ethereum’s next major move. Some desks predict a brief rally could give way to further declines, especially after the failure of the post-midterm-election uptrend. They have mapped a potential rebound zone from $2,295 to $2,393 but remain cautious.
A downside break below $2,206 could expose levels down to $2,069 or even $1,832. In contrast, a clear move above $2,446 would be viewed as a stronger indication that Ethereum has formed a solid price bottom.
For now, Ethereum remains boxed in between short-term resistance and nearby support, with the $2,263.73 to $2,281.12 range proving pivotal in determining whether the next recovery phase will take hold.
