Ethereum Short Term Bounce Fizzles as Bears Hold the Line at Key Weekly Resistance

Ethereum is sitting around the $2,100 mark and while there is some movement on the lower timeframes, the bigger picture has not improved much. As covered in our previous analysis, ETH got rejected just above the $2,150 to $2,250 resistance zone in the latter half of March and fell right back into the consolidation range it has been stuck in for months, another sign that bulls still have not gained any control over the market. The more important thing to flag here is what happened at $2,200. This was a level that held as solid support through the entire last bear cycle, and seeing it break during this correction and flip into resistance on the weekly chart is another sign that the broader correction might still not be over. Bulls are trying to push on the lower timeframes but there is no real conviction behind it and until that changes, the broader structure for ETH remains weak. Let us get into the charts and break down where price could go from here.

Our Ethereum Price Prediction Summary

• Ethereum rejected at $2,150 once again with the 4-hour RSI now overbought, pointing to more downside in the short term.
• The $2,000 mark is the immediate support to watch, with a break below it putting the $1,800 floor back on the table.
• The $2,200 level has firmly flipped into weekly resistance, confirming the broader correction still has room to run.

Analyzing the Charts

Relief Rally Fades as Sellers Step Back In

Looking at the 4-hourchart, the past couple of days did bring some encouraging signs as ETH broke out and pushed up to retest the $2,150 resistance level that we have been tracking on this timeframe. However, price faced rejection there once again and the move has done nothing to change the broader picture. What makes this more interesting is that the push into $2,150 drove the 4-hour RSI into overbought territory, and with price now dropping on the lower timeframes, that signal appears to be playing out. As ETH continues to pull back, the immediate support to watch sits just above the $2,000 mark and how price reacts there will be worth watching closely, as a break below it would bring the $1,800 floor back into play fairly quickly.

Same Story on the Daily Chart

Switching to the daily timeframe, not much has changed since our last analysis. As discussed previously, bulls managed to break above the $2,150 to $2,250resistance zone but failed to flip it into support, and price has since fallen back into the consolidation range it was trading in before that breakout. The macro trend on the daily chart remains unchanged with price still unable to print a higher high, grinding sideways before the next leg lower, which has been the recurring pattern on this timeframe since the October correction last year. The current setup is following that same script and with bulls showing no real strength here, a retest of the $1,800 floor is looking increasingly likely from where things stand right now.

Weekly Structure Continues to Point Lower

Switching to the weekly timeframe, the most significant development remains what we highlighted in our last analysis. Ethereum has broken below the $2,200 level that served as a key floor during the bearish phase of 2024, and with multiple weekly candles now closing below this zone the break is well and truly confirmed. That former support has now flipped into resistance and is exactly the area ETH has been struggling against in recent weeks. With the break now confirmed and resistance firmly established at $2,200, the next area of interest on the downside is $1,500, the same level that marked the bottom during the last bear cycle and a zone where we would expect buyers to show up in force. Until ETH can reclaim $2,200 on the weekly chart, our Ethereum price prediction remains bearish and that is unlikely to change anytime soon.

Final Takeaway: What is Next for Ethereum?

Ethereum is back in familiar territory after another failed attempt to reclaim the $2,150 to $2,250 resistance zone, and the broader structure continues to point lower. The $2,200 level flipping into weekly resistance remains the most telling sign that this correction is not done yet, and with the 4-hour RSI already playing out its overbought signal, the $2,000 level is the next test to watch in the short term. Until something meaningfully changes on the higher timeframes, our Ethereum price prediction stays on the bearish side.