Ethereum is stabilizing and supporting, with a target of US$2823.
Ethereum has recently steadily recovered from its low point, and the current price is around US$2460. This rebound has brought ETH back into key technical areas, with traders closely watching whether it can stay above $2400 and accumulate enough momentum to break through the resistance range of $2550 to $2650. According to Brave New Coin, Ethereum prices have dropped 0.80% in the past 24 hours.
Ethereum holds support and targets a breakthrough of US$2823.
Crypto analyst Donald Dean pointed out that the structure of Ethereum's daily chart has changed significantly. ETH is currently trading near the high-volume area of $2400 to $2450 as prices break past previous downtrend lines. Dean believes that previous resistance levels have transformed into new support layers.
As long as Ethereum remains above this range, technological breakthroughs will keep the price targets of $2600 and $2823 valid. However, if prices fall below $2400, the risk of retesting the $2300 to $2350 support area will increase.
With ETH remaining above $2400, analysts view $2600 and $2823 as realistic technical goals, but a break below that level could trigger a new round of testing of support around $2300.
Whales create drag in the US$2,550 - 2,600 area
On-chain data shared by trader CW8900 shows that large holders have placed a large number of sell orders at $2550 and $2600, forming an important supply barrier above current prices. At the same time, there are still significant pending orders around $2400, further consolidating the region's position as a reliable support.
Ethereum is currently in range volatility due to demand concentrated at the bottom and supply concentrated at the top. If the price clearly exceeds $2550, it indicates that buyers have absorbed the selling pressure; if they can continue to stand above $2600, it may push the price towards the target of $2700 or even $2823.
Weekly chart shows signs of recovery
Looking at the longer term, Ethereum has rebounded from previous lows around US$1,500 - 0, The $2,300 - 2,400 area has been regained. The Rand Group calls the region an important pivot point that has played both a supporting and resisting role in previous cycles.
Recovering the US$2,300 - 2,400 level on the weekly chart strengthens the argument for Ethereum's recovery. If momentum continues, US$2800 and US$3400 will become potential targets.
A weekly close above $2400 will consolidate recent gains and put ETH expected to move towards higher resistance levels of $2800 or even $3400. If the region can hold at the close of the monthly line, it will further confirm the broader recovery trend.
Close to next resistance zone
Despite the recent rebound, Ethereum still faces resistance in the US$2,630 - 2,650 range. The chart shows that the $2420 area, which has provided support in recent trading, may be retested in the short term. If ETH holds on to $2420 and rebounds, it is likely to challenge the $2,630 - 2,650 barrier again. A close above this region on the hourly chart or 4-hour chart will pave the way for a hit of $2700.
A clear breakthrough of recent resistance will strengthen the bullish outlook, while a loss of support could put the market under renewed downward pressure.
Ethereum Outlook: Key Levels to Pay Attention
Ethereum's current price is operating within a clear range, with US$2,400 - 2,450 as the main support, and US$2,550 - 2,650 constitute a key resistance cluster. If it exceeds US$2650, it may drive prices towards US$2700 and US$2823, while US$3,000 - 3,400 is a longer-term upward region. On the downside, losing $2400 may cause ETH to test the $2,300 - 2,350 support band. If selling pressure continues, a deeper correction may occur.
Bulls are waiting for a decisive break through resistance, while bears are focused on the possible break in positions if support is eroded.
As ETH holds on to recovered levels, the next wave of major movements is expected to be driven by a confirmation of a breakthrough of $2650 resistance or a break of $2400 support.

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