- Ethereum’s rejection at the ascending trendline signals a fresh bearish push toward $2,400 support.
- Lower highs and lows on ETH’s 4-hour chart confirm growing selling pressure and weak bullish momentum.
- The $2,400 zone is crucial; holding here could spark a rally, but failure risks deeper declines.
Ethereum’s price momentum has shifted downward after rejecting the ascending trendline as resistance. Bears are gaining control, pushing ETH toward the next support zone. Market participants are closely watching the $2,400 region as a decisive level in the short term.
Trendline Reversal Sparks Renewed Bearish Momentum
Price action on Ethereum’s 4-hour chart reflects a decisive shift away from prior bullish conditions. After climbing to $2,800, Ethereum failed to hold above an ascending trendline and began falling. The breakdown was confirmed when ETH retested the trendline as resistance and then moved lower.
This retest rejection has reinforced a bearish structure in lower timeframes, according to technical observations. Ethereum has since hovered near $2,514, unable to recover the lost territory. The consistent formation of lower highs and lower lows signals increased selling dominance.
Marzell, a crypto analyst, explained that unless Ethereum reclaims the broken trendline, the downtrend remains active. He added that the next downside target remains at $2,400, which marks a significant support zone. His chart analysis shows that momentum remains weak, limiting upside attempts.
Moving Averages and Long-Term Pressure Points
On the daily chart, the moving average has remained a central barrier throughout Ethereum’s broader price cycle. Price rallied from a low near $1,800 in April to hit $2,800 in May before pulling back. The moving average has now shifted into a temporary support region near $2,400.
Historical behavior around this indicator shows repeated failures to break above during previous months. January, February, and March all recorded sharp rejections near $3,500, $3,000, and $2,700. These failed breakouts supported a long-term bearish trajectory until early May.
Max has provided a comparative analysis, emphasizing the importance of the $2,400 area. He noted that Ethereum’s rise above $2,200 was a structural breakout, but this retracement needs to hold. If buyers regain momentum at $2,400, another rally toward $2,800 could form.
Final Outlook and Sentiment Observed on X
Ethereum’s chart now reflects an uncertain consolidation between key zones. Price behavior continues to echo patterns seen in earlier correction phases, especially near major resistance and support levels.
Market sentiment on X shows cautious optimism, with some traders preparing for a bullish rebound. Activity across trading desks suggests a rising tide of engagement as ETH approaches pivotal price action. A segment of observers believes this structure could soon tilt in favor of bulls. Others remain wary, citing past failures and the risk of abrupt reversals at fragile support layers.
