ETH is testing the lower boundary of the ascending channel. Repeated rejections from the midline and strong sell volume suggest weakness.
🔸 Key Support Zone at $2,450 – $2,420:
This zone is under pressure. A clean break below this area will confirm a breakdown from the channel structure, shifting bias bearish.
🔸 Downside Target: $2,300 – $2,250
If ETH fails to hold above the support zone, the next demand level lies around $2,300, with further potential downside toward $2,250.
🔸 Upside Target:
If Ethereum fails to break down and instead bounces from the current support zone ($2,450–$2,420), the upside target remains at $2,700 – $2,800, which is the upper boundary of the ascending channel shown in the chart.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.