Ethereum (ETH) Price Prediction: ETH Holds $2,100 Pivot as Consolidation Keeps $2,400 Rally Conditional

After breaking above this resistance earlier in the month, ETH briefly improved market sentiment, but follow-through has been limited. Reviewing the daily and weekly charts, the area stands out as a former supply zone that rejected the price several times since late 2024, making the current consolidation a critical test of whether resistance can finally convert into support.

The breakout briefly improved sentiment and opened the door to a potential recovery toward $2,400. However, follow-through buying has been modest. Price has since drifted back into the $2,080–$2,120 range, suggesting the market is still testing whether this level can truly flip from resistance into support rather than immediately launching higher.

From a technical standpoint, this area now functions as a confirmation zone: sustained closes above it would signal acceptance, while repeated failures would imply another false breakout.

Breakout Above $2,100 Meets Immediate Selling

On the daily timeframe, clearing $2,100 ended a sequence of lower highs that began after Ethereum topped near $3,500. Volume expanded during the breakout, but the move lacked the steady spot demand typically seen at the start of stronger trend reversals.

ETH has broken above $2,100, with a sustained daily close potentially opening the path toward $2,400, while a failure to hold this level may lead to a retest of recent lows. Source: @TedPillows via X

Derivatives positioning and liquidation data indicate that part of the push higher was driven by short covering rather than fresh capital entering the market. Rallies fueled primarily by liquidations often extend quickly but struggle to sustain momentum, which helps explain the current hesitation near resistance.

Price action since then shows repeated rejections between $2,110 and $2,120, with heavier supply emerging again near $2,269–$2,350. A decisive acceptance above those bands would be needed to reestablish a cleaner path toward $2,400.

Ethereum Technical Analysis: Momentum Remains Defensive

Recent Ethereum technical analysis shows mixed conditions rather than a clear trend shift.

On higher timeframes, ETH has broken out of a rising wedge and printed a lower high — typically a sign of distribution or consolidation rather than expansion.

ETH has exited its uptrend and entered a seller-dominated structure with resistance between $1,950–$2,120 and overhead supply at higher levels, signaling bearish continuation unless price reclaims $2,588 on a weekly close. Source: cryptodailyuk on TradingView

Momentum indicators reinforce that caution:

• RSI remains below 50, which historically marks the boundary between bullish and bearish momentum. In prior ETH recoveries, sustained rallies usually began only after RSI reclaimed the 50–55 range.

• Stochastic RSI rebounds are stalling mid-range, indicating buyers lack acceleration.

• MACD has produced a fresh bearish crossover, suggesting fading upside strength.

Taken together, these signals imply that momentum has not yet transitioned into a new uptrend. Declines continue to be sharp and impulsive, while rebounds appear slower and corrective — a pattern commonly associated with seller control.

Still, ETH holding above the $2,000 psychological floor prevents a broader breakdown and keeps consolidation intact for now.

Key Price Levels Traders Are Watching

Based on recent structure and historical reaction zones, these levels are likely to shape short-term Ethereum price behavior:

Resistance

• $2,110–$2,120 (recent breakout zone under active testing)

• $2,269–$2,350 (high-volume supply/order block)

• $2,588 and $3,104 (previous acceptance zones on weekly charts)

Support

• $2,000 psychological level

• $1,700–$1,750 demand band

• $1,800 weekly reaction region

A weekly close above $2,588 would represent the first higher-timeframe confirmation of recovery strength. Without that, rallies may continue to behave as corrective bounces inside a broader range.

Structural Backdrop: Network Development and Institutional Participation

Beyond short-term charts, longer-term sentiment around Ethereum continues to be shaped by network scalability efforts and institutional exposure.

After an unexpectedly sharp correction, the outlook remains cautiously optimistic, with modest upside anticipated and an initial target of a 14% move toward $2,400, though further pullbacks remain possible. Source: MadWhale on TradingView

Ethereum developers have discussed increasing Layer-1 throughput over time through future upgrades aimed at raising gas limits and improving efficiency. While higher capacity could reduce transaction costs and improve usability, timelines and final specifications remain subject to testing and governance decisions rather than fixed guarantees.

Institutional access through Ethereum ETFs has also introduced steadier, though variable, capital flows. Weekly inflows and outflows fluctuate, but the presence of regulated products generally supports longer-term adoption by allowing traditional investors exposure without direct custody risks.

Together, these factors provide constructive background support but do not override near-term technical structure.

Final Thoughts

As of the latest session, ETH trades near $2,100, effectively sitting at the pivot between recovery and rejection. The market is not in a confirmed uptrend, but it is also not breaking down.

Ethereum was trading at around $2,093.468, up 0.47% in the last 24 hours at press time. Source: Brave New Coin

In practical terms, Ethereum is stabilizing after volatility while participants wait for a clearer direction. Holding above $2,100 keeps a gradual move toward $2,400 technically possible. Losing it would likely shift focus back to lower demand zones.

For now, the evidence favors consolidation with cautious upside potential, not yet a decisive breakout.