Ethereum struggles near $2,300 with weak demand

Ethereum is trying to recover, but the $2,400 to $2,500 zone is blocking a stronger trend shift. Until ETH clears that range, the latest bounce remains under pressure.

Ethereum traded near $2,317 on the 2-day chart, holding below the $2,400 resistance zone after a sharp rebound from April lows. The chart shared by analyst Ted Pillows shows ETH facing resistance around $2,400. That level now acts as the first major barrier for buyers. A clean move above it could open the way toward $2,624, followed by the wider supply zone near $2,780.

Demand remains weak

However, spot demand appears weak. That keeps the $2,200 support zone in focus. If ETH loses that area, the next lower support sits near $1,800, where the previous rebound started. For now, Ethereum remains between support at $2,200 and resistance at $2,400. A bounce from $2,200 could send ETH back toward $2,400. But without stronger buying pressure, the move may fail before a larger recovery forms.

Weekly chart shows rejection

Ethereum closed near $2,309 on the weekly chart after rejecting from a key resistance cluster that includes the bull market support band and long-term moving averages. The chart shows ETH failing to hold above the weekly 200MA and 200EMA, which sit around the $2,430 to $2,460 range. This area has acted as dynamic resistance since the broader downtrend started last year. The rejection confirms that sellers still control this high timeframe level.

Data from analyst Daan Crypto Trades shows price structure recovering from the $1,800 region but stalling below $2,500. The horizontal resistance near $2,850 remains intact, marking a prior breakdown level. Until ETH reclaims the $2,400 to $2,500 zone, the market stays within a broader bearish structure on the weekly timeframe.

What needs to change

For a shift in control, Ethereum needs sustained closes above this range. That would place price back above both the bull market support band and key moving averages. Without that, the current move remains a relief rally inside a larger downtrend.

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