Ethereum Smashes Against Key Resistance Wall—Will It Break Through or Bounce?
Ethereum’s price action is putting on a high-stakes show as it rams into a critical resistance level. Traders are glued to their screens—will ETH power through or get smacked back down?
The make-or-break moment
All eyes are on the charts as Ethereum tests a resistance zone that’s crushed previous rallies. The crypto’s flirting with levels that could either trigger a FOMO stampede or send weak hands scrambling for exits.
What the charts aren’t saying
While technicals dominate the conversation, remember this: Wall Street’s still trying to ’disrupt finance’ with blockchain while missing the irony of using 19th-century chart patterns. Whether ETH breaks out or not, one thing’s certain—the trading fees will remain absurd either way.
$2,728, the largest altcoin, has been trading between $2,400 and $2,800, putting investors’ patience to the test. The $2,700–$2,800 region where strong selling occurs continues to pull the price back after each attempt to break through. Despite this, the demand foundation remains firm around $2,400. Analysts believe this price consolidation will soon resolve. Should the price break upwards, it could pave the way for a rapid rally toward $3,300. Conversely, a downward break might trigger a new correction wave, potentially extending to $2,200.
ContentsEthereum Struggles at the $2,700 Resistance LevelTraders Eye Potential Triangle Breakout
Ethereum Struggles at the $2,700 Resistance Level
On the daily chart, the $2,700–$2,800 band emerges as a strong profit-taking area for Ethereum, marked by selling pressure that has repeatedly nudged the price back by an average of 4-5% with each interaction. However, buyers haven’t given up, pushing the lows progressively higher, indicating a psychological rather than a supply-demand battle.
Achieving a clear closing above $2,800 WOULD be the first crucial step in buyers’ favor. Such a close suggests the market is gearing up for a new momentum wave, targeting the $3,100–$3,300 range as the next goal. Momentum indicators might also support this scenario with positive crossovers.
If the situation takes a turn, with prices falling below $2,540, the market structure will be disrupted, opening the way to retesting the SAFE haven of $2,400 support. A breach of this level could swiftly lead to flooding selling down to $2,200, especially if accompanied by increasing volume.
Traders Eye Potential Triangle Breakout
For weeks, Ethereum’s rising lows and flat highs have established a classic ascending triangle formation. The resistance line develops around $2,700, with the support line climbing incrementally. According to technical formation principles, breaking above the resistance line could yield additional premiums equal to the formation’s height, approximately 400–500 dollars.
From the wave theory perspective, certain commentators argue April marked the start of Ethereum’s fifth major wave, currently witnessing its final extension. Under this scenario, ETH remains within the A-wave. A short-term B-wave pullback may seek support between $1,650 and $2,170. Subsequently, the C-wave, the final upward move, might initiate, potentially challenging all-time highs.
For bulls, the risk line sits at $2,510. Losing this threshold would weaken the short-term bullish scenario. Sustained moves below $2,319 could confirm a downtrend, prompting new low searches. Given the market’s rapid sentiment shifts, traders are advised to keep stop-loss levels updated.
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