Ethereum Faces a Key Test on the Daily Chart: What Comes Next?
Ethereum continues to move within an ascending channel on the daily chart, although momentum has started to weaken gradually over the past few days.
Summary:
- Ethereum remains above an important level on the daily chart.
- The ascending channel is still intact.
- The area around $2,240 continues to act as support.
- The next stronger support is located around $2,150.
- The main resistance to the upside remains around $2,400.
Ethereum Still Maintains Its Bullish Structure
At the time of writing, ETH is trading at $2,269 and holding above an important support zone around $2,240, where the 50-day Simple Moving Average (SMA) intersects with the lower boundary of the ascending channel, which is currently acting as support.
This is an important technical detail because such zones often determine whether the broader uptrend will remain active or if the market will transition into a deeper correction.
At the same time, price action is becoming more erratic, with Ethereum moving within a tighter range and lacking clear short-term momentum.
This type of phase is often described as a “choppy market” – a situation where price moves sharply in both directions without stable momentum.
Even so, Ethereum still remains inside the ascending channel, and there has been no confirmed breakdown of the structure so far.
The $2,240 Area Remains the Key Support
The main focus right now is whether the price can continue holding the lower boundary of the channel and the 50 SMA.
If Ethereum starts closing below this zone, the market will likely shift its attention toward the next stronger support around $2,150.
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This level has already limited downside movement several times over the past few weeks and also aligns with the 100 SMA, which often acts as an important dynamic support during broader bullish trends.
That is why traders will likely watch this area very closely if the price moves lower.
The Next Resistance Remains Around $2,400
If Ethereum manages to hold the current support and regain upward momentum, the first major resistance remains around $2,400.
This is the zone where price has already struggled several times during previous attempts to continue higher.
In the event of a breakout above that level, attention will likely shift toward the next strong resistance at the 0.236 Fibonacci level (around $2,500), which is shaping up as the next major technical barrier on the chart.
That is where the bullish move will likely face its first more serious test if the ascending channel remains active over the coming days.
The information presented in this article is intended for informational purposes only and should not be interpreted as financial, investment, or trading advice. Coinspress.com does not promote or advocate for any particular investment strategy, asset, or cryptocurrency project. Cryptocurrency markets are highly volatile and unpredictable – always perform your own research and seek guidance from a qualified financial professional before making any investment decisions.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
