Ethereum Price- Ethereum Technical Breakdown: What’s Next for ETH?

Ethereum Price– Ethereum (ETH) is currently trading around $2,244 following a sharp intraday recovery from lows near $2,150. This bounce comes after a rejection earlier in the week at approximately $2,620, and places Ethereum in a critical technical position as it hovers above the weekly 0.236 Fibonacci retracement level at $2,026.

Despite the short-term rebound, broader price action suggests ongoing uncertainty, with Ethereum stuck between strong resistance zones and a fragile demand cluster. As we approach June 24, both bulls and bears are vying for control of the market structure.

Ethereum Price at Risk: Key Support Under Pressure

Weekly Chart: Ethereum Faces Key Technical Barriers

Ethereum (ETH)’s weekly price chart reveals a failure to close above the 0.382 Fibonacci level at $2,424, despite forming a macro higher low. The cryptocurrency remains capped below both the 0.5 and 0.618 Fib levels at $2,744 and $3,066, respectively.

This indicates that selling pressure continues to dominate at mid-retracement zones, which traditionally serve as significant battlegrounds between buyers and sellers.

The current weekly candle is attempting to hold above the 0.236 retracement at $2,026, signaling a potential consolidation phase.

Unless Ethereum (ETH) establishes a clear breakout above these mid-level resistances, upside potential is likely to remain limited in the near term.

Daily Chart: Broken Structure and Descending Channel

On the daily timeframe, Ethereum (ETH) has broken below a previously respected ascending trendline and is now trading near the lower edge of a broad descending parallel channel. This breakdown points to weakening bullish momentum.

Key Support and Resistance Levels

Immediate support sits near $2,205, while resistance is layered around $2,380. This zone includes both the Bull Market Support Band and the Supertrend resistance level, forming a tough ceiling for any recovery attempt.

A push beyond this area could allow Ethereum (ETH) to challenge $2,448 — a previously broken support now turned resistance. However, technical confluence zones here remain thick and are likely to trigger selling unless backed by volume.

Why Is Ethereum (ETH) Price Under Pressure?

A major contributor to the recent pullback is Ethereum’s rejection from a tight confluence of dynamic resistance levels. These include:

EMA100 at $2,435
EMA200 at $2,482
Bollinger Band mid-line at $2,360

Ethereum failed to sustain gains above these levels, which triggered a wave of liquidation-driven selling, dragging the price back toward $2,120.

Intraday Indicators Signal Bearish Control

4-Hour Chart: Momentum Favors Sellers

On the 4-hour chart, technical indicators continue to reflect bearish momentum:

The Supertrend remains negative below $2,382
The DMI (Directional Movement Index) shows -DI dominance at 52.87, with ADX above 39, indicating a strong trending market in favor of sellers
BBP (Bull Bear Power) has stayed negative since June 17, signaling intraday weakness

30-Minute Chart: Minor Divergence Emerges

A small divergence is visible on the 30-minute chart, where the RSI bounced from 35 to above 55. However, this remains shallow and is failing to translate into strong price action, as Ethereum (ETH) continues to face rejection around the VWAP and Parabolic SAR levels clustered near $2,234–$2,244.

Bear Flag Channel and Market Indecision

Ethereum price is currently stuck inside a bear flag formation, with recovery attempts struggling to regain the lower boundary of a previously broken rising wedge pattern. The late-May price spike has fully retraced, and the $2,448 zone — once a launchpad — now serves as resistance.

Bollinger Bands on the 4-hour timeframe are wide but beginning to narrow, a common precursor to volatility breakouts. However, the presence of smaller candle bodies suggests ongoing indecision among market participants.

Ethereum (ETH) Outlook: What to Watch Ahead of June 24

Heading into the final week of June, several critical levels could dictate Ethereum’s next move:

Upside Zones to Watch
A break above the $2,260–$2,280 supply zone could open the door toward $2,333 (aligned with EMA20), followed by $2,380 and $2,448. However, this move would require solid volume and a confirmed break of intraday resistance clusters.
Downside Risks
A drop below $2,200 could invalidate current bullish recovery patterns and lead to a retest of $2,026 — a key Fibonacci level and liquidity pocket. Further losses may expose Ethereum (ETH) to support zones at $1,958, $1,880, and even as low as $1,490 (monthly pivot and lower channel support).

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.