Ethereum has declined after failing repeatedly to break above the $2.68K–$2.77K resistance zone, pushing the asset toward $2.42K. The move has weakened the asset's short-term technical structure, with price action now dependent on whether buyers can defend support areas below current levels.
Daily Chart Analysis
On the daily timeframe, a large bearish candle has marked a departure from recent consolidation, indicating that sellers have gained control of immediate price action. The daily RSI has dropped to approximately 44, moving below neutral territory.
Despite the correction, Ethereum remains above both major moving averages. The 100-day average sits near $2.21K and has already crossed above the 200-day average around $2.13K, preserving a constructive longer-term backdrop.
The $2.36K–$2.42K demand zone represents the next major daily support area, with an ascending trendline approaching this region. Holding this area would keep the broader recovery structure intact. A sustained breakdown would expose the moving-average region around $2.13K–$2.21K, while reclaiming the $2.68K–$2.77K supply zone is necessary to restore a stronger bullish outlook.
4-Hour Chart Breakdown
The 4-hour chart shows a decisive bearish break from a symmetrical triangle. After compressing between descending resistance and ascending support, Ethereum fell beneath the lower boundary near $2.68K and extended losses toward $2.42K.
The RSI has dropped to around 26, placing short-term momentum in oversold territory. This could support a temporary relief bounce, though oversold conditions alone do not confirm a reversal. Any recovery would initially face resistance around $2.6K–$2.62K, followed by the broken triangle boundary near $2.68K–$2.7K.
The $2.40K–$2.42K demand zone has become the next important support area. Failure to defend it would increase the risk of a move toward the September lows around $2.36K–$2.38K.
Liquidation Levels
The two-week Binance ETH/USDT liquidation heatmap shows the recent decline has moved through previously dense estimated liquidation bands around $2.6K–$2.65K. These bands have faded behind the falling price, consistent with leveraged positions being cleared as Ethereum moved lower.
Remaining nearby downside concentrations appear around $2.52K–$2.54K, with additional bands toward $2.48K–$2.5K. Above price, a nearby band remains around $2.63K–$2.64K, while the most prominent overhead concentration sits around $2.78K–$2.84K.
