Ethereum (ETH) Price Prediction: Key $2,275 Reclaim Could Trigger Move Towards $2,400

Ethereum is once again approaching a critical tension point, with price compressing just below resistance while showing early signs of strength on lower timeframes. According to Brave New Coin data, ETH is currently trading near $2,259, slightly down on the day, as the market continues to consolidate after a recent sharp move lower.

Ethereum (ETH) was trading at around $2,259, down 0.61% in the last 24 hours. Source: Brave New Coin

Bullish Divergence Builds Near Key Demand

On the lower timeframe, ETH has recently printed a bullish divergence on RSI, where price made lower lows while momentum formed higher lows, often an early signal of potential reversal.

Ethereum shows early reversal signals with bullish RSI divergence as price tests key $2,275 reclaim zone for potential upside continuation. Source: Trader Symba via X

This setup was highlighted in charts shared by Trader Symba, noting that ETH needs to reclaim the $2,275 level to confirm strength. This level now acts as the immediate trigger for upside continuation.

If ETH manages to push above $2,275–$2,300, it opens the path towards:

• $2,340 is the first resistance
• $2,400 is a major supply zone

However, failure to reclaim this zone keeps price vulnerable to further chop or downside continuation towards $2,200–$2,150 support.

Higher Timeframe Structure Below Resistance

Looking at the broader structure, ETH is trading within a tight consolidation range, forming a series of slightly higher lows while repeatedly failing to break above resistance.

ETH compresses below $2,300–$2,350 resistance, with repeated rejections hinting at a potential breakout. Source: Michaël van de Poppe via X

As noted by Michaël van de Poppe, price continues to respect structure, with multiple rejection wicks forming below the $2,300–$2,350 resistance zone. This kind of repeated testing often weakens resistance over time, increasing the probability of a breakout.

Above this region, the next major resistance sits around:

• $2,900–$3,000 is the higher timeframe supply zone

But before that, ETH must first establish acceptance above $2,350 on higher timeframes.

Early Signs of Base Formation

From a structural perspective, ETH appears to be forming a short-term base, with price stabilizing after a strong sell-off. The market is no longer making aggressive lower lows, and instead is starting to compress within a defined range. This aligns with the idea shared by CJ, who pointed out that ETH is developing a proper bottoming structure, though confirmation still depends on holding recent lows.

Key levels to watch here:

• $2,100–$2,150: Critical support zone
• $1,750–$1,800: Last major demand if breakdown occurs

As long as ETH holds above $2,100, the structure leans towards accumulation rather than continuation lower.

ETH shows early base formation above $2,100, with stabilization hinting at accumulation rather than further downside. Source: CJ via X

Derivatives Showing Quiet Accumulation is Underway

Beyond price action, derivatives data suggest that positioning is slowly building again. Following the sharp drop, spot volume spiked heavily at the lows, which typically signals strong buying interest stepping in during the sell-off.

Rising open interest alongside sideways price action signals quiet accumulation, with buyers stepping in after the recent drop. Source: Trader Symba via X

At the same time, open interest has been steadily rising while price moves sideways, a dynamic highlighted by Trader Symba. This combination often points toward accumulation rather than distribution, as positions continue to build without aggressive price expansion.

Final Thoughts: Seasonality Adds Volatility Expectations for Ethereum Price

Adding another layer to the current setup, seasonality is starting to matter. Insights shared by Daan Crypto Trades highlight that May has historically been an outlier month for ETH, often bringing sharp moves in either direction. This fits well with the current structure, where price is compressing just below resistance.

Ethereum is currently trading around $2,259, consolidating below the $2,275 resistance while holding firm above nearby support. If ETH manages to reclaim $2,275 and break through the $2,300–$2,350 zone, it would confirm short-term strength and open the path towards $2,400, with a broader move towards $2,900 if momentum expands. On the downside, failure to break resistance could keep ETH stuck in a range or trigger a pullback towards $2,150–$2,100.

Overall, with seasonality pointing to higher volatility and structure tightening, ETH looks set for a decisive move.