Ethereum ($ETH) recently attempted a breakout past the $2,535 resistance zone, but failed to sustain above it. After printing a strong upward move, ETH faced selling pressure and began to retrace, now hovering around $2,491 at press time. The yellow resistance zone near $2,535 has proven difficult to conquer, and the RSI is trending down after reaching the overbought territory.
ETH/USD 4-hours chart - TradingView
The orange arrow on the chart highlights where the rejection began, while previous green arrows show multiple rebounds off the $2,400 support, emphasizing how critical that level is.
ETH’s current 4H chart shows a clear structure between $2,400 support and $2,535 resistance. Each time ETH has dipped to the $2,400 level, buyers have stepped in aggressively — making it a strong support floor. However, failure to break through the $2,535 level despite multiple attempts raises concerns.
ETH/USD 4-hours chart - TradingView
The RSI indicator is dropping below the midline (45.90), hinting at weakening momentum. If the $2,400 level fails, the next support sits near $2,200. But if bulls defend $2,400 once more and reclaim $2,535, a push toward $2,732 could be back in play.
If ETH holds above $2,400 in the coming days, the structure favors bullish continuation — with upside targets of $2,600 and $2,732. However, if it breaks down, short-term bears may take control, pushing ETH toward $2,200 or even lower.
Buyers looking for a medium-term entry may consider watching the $2,400 zone closely for bounce signals. Caution is warranted unless ETH flips $2,535 into support convincingly.
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