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Ethereum is trading near a critical technical zone after recovering from early 2026 lows, with price action pressing into long-term resistance. The cryptocurrency remains below key weekly indicators, keeping traders focused on whether current momentum can support a sustained shift in the broader trend.
Ethereum’s weekly structure is approaching a decisive resistance cluster following a rebound from recent lows. The current move places the asset just below long-term indicators that are often used to gauge broader market direction.
A recent post by Daan Crypto Trades highlighted that Ethereum is rejecting the bull market support band and the weekly 200 averages. The post said a weekly close above the $2,400 to $2,500 range is needed to regain bullish control.
At present, Ethereum trades near $2,309, still below the weekly 200 EMA around $2,459 and the 200 MA near $2,430. This area continues to act as a resistance cluster limiting upside movement.
The broader price structure reflects a strong rally into late 2024, followed by rejection near $4,600. Since then, Ethereum has remained within a wider downward structure despite the recovery attempt. The same zone that previously acted as support during the earlier uptrend has flipped into resistance after the breakdown.
Ethereum rebounded from a capitulation low near $1,790, where elevated selling volume suggested a possible exhaustion phase. After that move, price reclaimed the $2,100 to $2,165 support region.
Following the rebound, Ethereum has continued to trade within a recovery structure, gradually pushing toward the $2,300 area. Even so, the asset remains inside a broader downtrend on the weekly timeframe.
Nearest support is defined in the $2,165 to $2,106 zone. Below that, macro support is cited in the $2,030 to $1,790 region.
On the upside, resistance continues to cap price. The $2,815 to $2,851 zone has seen repeated rejections. Beyond that, the $3,300 to $3,500 range is described as a prior support area that now functions as resistance.
The article also references a reported institutional transaction: the Ethereum Foundation finalized an OTC sale of 10,000 ETH to BitMine at an average price of $2,387. This equates to roughly $23.9 million in ETH moving through an institutional OTC channel.
Volume data cited in the report indicates a shift after the sharp decline. Selling pressure has eased, while gradual buying activity has emerged. The pattern is described as aligning with early accumulation behavior, though the report notes that confirmation remains limited.
Traders are monitoring the $2,400 region closely. A move above this level could lead to a test of $2,850, while rejection may send price back toward lower support levels. For now, Ethereum is characterized as being in a transition phase, reacting to long-term indicators ahead of the next directional move.
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