Ethereum Price Prediction: Most Significant Breakout Ahead or Another Painful Rejection?

Ethereum is trading above $2.3k as April draws to a close, ending the month in a frustratingly familiar position. It is pressing against the same $2.4k resistance zone it has now tested repeatedly since mid-March without a clean resolution. ETH sits at the threshold of what could either be its most significant breakout in months or yet another rejection at the gate.

Ethereum Price Analysis: The Daily Chart

What has genuinely changed on the daily chart over the past four weeks is not the resistance. The $2.4k zone has held firm throughout. Yet, each recent pullback has found support at a higher level, first the $2k area, then $2.1k, and now the higher trendline of the broken channel and the 100-day moving average around $2.2k are the support elements to keep an eye on. The sequence of higher lows, sustained over multiple weeks, represents quiet accumulation building beneath a stubborn ceiling.

The RSI also remains in the high-50s, which is not the kind of momentum collapse that has preceded prior failed breakouts, but still not showing enough strength for another push toward $2.4k. If the market fails to break above the mentioned level, the 100-day moving average would be the first downside target, and if it fails to hold, the price could fall all the way back below $2k and toward the critical $1.8k area that began this mild recovery.

ETH/USDT 4-Hour Chart

On the 4-hour chart, a steep ascending trendline that emerged from the late-March lows is now providing dynamic support near $2.3k, keeping the short-term structure of higher lows intact. ETH is currently sitting directly on that trendline, with the RSI dropping to mid-40s following the most recent pullback from $2.4k.

At the moment, the most notable event is the trendline being tested near the $2.3k mark. Holding it keeps the bullish sequence alive and sets up another attempt at $2.4k, while a close below it opens $2.1k-$2k as the next area of interest. A breakdown of the trendline, followed by a close below the recent significant lows at $2.25k, would be the signal that a deeper pullback is coming once more.