Ethereum Price Analysis: Failure at $2.4K Spells More Trouble Ahead for ETH

Ethereum continues to trade within a broader consolidation structure as the market struggles to establish sustained bullish momentum. Nevertheless, weakening momentum indicators and growing signs of seller activity suggest that the market could be preparing for another corrective move in the short term.

Ethereum Price Analysis: The Daily Chart

On the daily timeframe, ETH is showing a notable bearish divergence between the RSI indicator and price action. While the asset recently attempted to stabilize near the $2.3K-$2.4K region, the RSI has been forming lower highs, signaling weakening bullish momentum beneath the surface. At the same time, the recent price action has become increasingly choppy and indecisive, further highlighting the presence of sellers around the current levels.

This combination of bearish divergence, weakening momentum, and unstable price behavior increases the probability of a downward move toward lower support zones in the coming days. If such a decline unfolds, the 100-day moving average around the $2.2K region will likely become the next important defensive line for buyers. A loss of this level could expose Ethereum to deeper corrections toward the broader $2K support range.

ETH/USDT 4-Hour Chart

On the 4-hour chart, ETH is currently facing a significant hurdle at the upper boundary of the recent short-term range near the $2.4K region. Despite several attempts, buyers have repeatedly failed to secure a breakout above this resistance area, signaling a lack of strong bullish momentum and continued seller presence at higher prices.

As a result, the market appears vulnerable to another corrective move toward the lower boundary of the range around the $2.2K support zone. This level is particularly important because price behavior there will likely determine the next directional move. If the $2.2K region fails to hold, Ethereum could quickly extend its decline toward the major $2K support area, which remains one of the most critical demand zones on the higher timeframes.