Ethereum Price Analysis: Is ETH Heading Toward $2K After Another Rejection at $2.5K?

Ethereum is still trading around $2.4K after a sharp recovery from the $1.5K area. The latest charts show ETH consolidating beneath the $2.5K resistance region, while supply continues to tighten. The technical structure remains constructive on the higher timeframe, although short-term momentum has weakened.

Ethereum Price Analysis: The Daily Chart

The daily chart shows a significant structural improvement compared with the June lows. ETH formed a base around the $1.5K-$1.6K region before beginning a sustained recovery that eventually pushed the price above the $2K area and into the $2.5K zone.

The most important near-term resistance is the $2.5K zone, where ETH has spent several weeks consolidating. The price has repeatedly struggled to confirm a breakout above this range, and the latest candles show another rejection at this level. A decisive daily close above $2.5K could open the way toward the next major psychological resistance around $3K.

On the downside, the first important support appears around $2.0K-$2.1K. This zone is particularly significant because it also closely overlaps with the 100-day and 200-day moving averages. The 200-day moving average is around $2.05K and is rising, while the 100-day moving average is also turning upward near the $1.95K area. Holding this region would help preserve the improving medium-term structure.

ETH/USDT 4-Hour Chart

The 4-hour chart demonstrates a more granular picture of the current consolidation. ETH experienced a powerful upside move around August 19-22, climbing from roughly $1.9K toward the $2.5K region. Since then, the market has largely remained inside a broad horizontal range.

The range currently appears to extend from approximately $2.35K to $2.6K, with the $2.5K zone acting as the central resistance area. ETH is now trading around $2.4K after recently falling from the upper half of the range.

The immediate technical concern is that the price has moved toward the lower boundary of the range. The $2.35K area is therefore an important short-term support. If buyers defend this region and reclaim $2.5K, the range could remain intact, and the upper boundary near $2.6K could come back into consideration.

Conversely, a breakdown below $2.35K would weaken the range structure. In that scenario, the next visible support is the $2.25K order block. A loss of that region would expose the broader $1.9K support area.