Ethereum tested the lower boundary of the ascending channel, dipping as low as $2,385, just above the critical support zone at $2,450–$2,420. However, sellers failed to push price below the structure, and buyers stepped in aggressively.
🔸 Key Support Zone at $2,450 – $2,420:
This area acted as a strong demand zone. Despite heavy sell volume, ETH held above it and triggered a bullish reversal.
🔸 Breakdown Rejected – Bullish Momentum Returned:
The rejection of the breakdown and strong bounce confirmed continued respect for the channel structure. Price surged above the midline and reached the $2,800+ area, tagging the upper boundary of the ascending channel.
🔸 Upside Target Achieved: $2,700 – $2,800
As predicted, once ETH held the support zone, price rallied to meet the upper resistance band.
🔸 Outlook Ahead:
Ethereum remains within the ascending channel. If bulls maintain momentum and break above $2,800, the next leg higher could target $2,950 – $3,000. However, failure to hold above $2,700 may invite a retest of the midline or even support again.
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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.