Ethereum (ETH) Technical Analysis – 4-Hour Chart
On the 4-hour chart, Ethereum (ETH) has broken below the lower boundary of the ascending channel. Following the breakdown, the price is attempting to hold around the $2,488 level. However, this area lies below the former channel support and carries the risk of turning into a horizontal resistance zone. There is an attempt to re-enter the channel with increasing volume; if successful, the price may once again test the upper boundary of the channel.
The $2,467 level stands out as the initial support area. If this zone is broken, the price may decline further toward the $2,416 and $2,315 levels. Notably, the $2,272–$2,290 range was a previous area where buying reactions emerged. Therefore, short-term buyers may step in if the price pulls back to this zone. However, if this area is also lost, the $2,181 support level could come into focus.
On the upside, the first resistance zone to watch is the $2,565–$2,595 range. This area could generate strong selling pressure. However, if the price breaks this zone with high volume and maintains stability above $2,500, the upward movement could gain momentum. In this case, the $2,800 level would become the next target, followed by $3,000. Particularly, closing above $2,595 would indicate a shift back in favor of the buyers.
Looking at the overall structure, technical pressure has increased in the short term. With the breakdown of the ascending channel, price movements have become more cautious. While the medium-to-long-term bullish outlook is not completely invalidated, there is currently no clear buyer dominance in the market. Supports are being tested one by one, and the price is seeking direction through reactions.
