Ethereum is going nowhere fast. The asset was turned away at $2,400 and has since slipped to around $2,154, still unable to hold any meaningful ground to the upside. The selling pressure has not let up.
The $2,250 resistance zone sits directly overhead. Each time ETH approaches that level, sellers step back in. According to cyrilXBT on X, “ETH keeps getting sold into it” at the $2,250 zone, and nothing has changed in the chart structure to suggest that stops anytime soon.
Trapped Between Two Levels
The EMA 200 is sitting at $2,814. That number is not part of the conversation right now. As cyrilXBT noted on X, the macro trendline at $1,800 is still the last major support sitting below current price, and that is where attention turns if $2,100 does not hold.
TedPillows posted on X that ETH is still holding above its support zone. The $2,100-$2,150 band is what he is watching. His read is that as long as price stays above that zone, one final rally remains possible. After that, new lows.
So the picture is conflicted. One read points to a last-gasp bounce, the other says the chart is still bearish until proven otherwise. Both agree the $2,100-$2,150 area is what matters most right now.
Volume Is the Missing Piece
CyrilXBT said on X that a clean close above $2,250 with volume is what it takes to shift the view. Without that, the structure stays bearish. ETH showed it could reach $2,400, but it could not close there. That rejection is what brought price back to where it is now.
TedPillows’ scenario gives the bulls a narrow window. A rally off support could happen, but even in his read, the end result is a drop to new lows. The bounce, if it comes, is not a trend reversal.
$2,154 is not a comfortable place to be sitting. Below $2,100, the chart gets significantly worse. Above $2,250 with conviction, the tone changes. Right now ETH is in neither of those places.
