Ethereum Tests Support as Whale Orders Return

| cryptopotato.com
Ethereum’s recovery has weakened since an earlier rebound towards $2,550. In the latest update, ETH bounced from about $2,380 to $2,460 but has not confirmed a trend reversal. The price is testing the $2,360–$2,440 demand zone and the lower edge of a broader ascending channel. Earlier analysis noted that ETH remained above its 100-day and 200-day moving averages, near $2,240 and $2,140, respectively, but resistance at $2,660–$2,740 remains a significant hurdle. On the four-hour chart, ETH is forming a narrowing descending pattern. A confirmed move above $2,420–$2,440 could put resistance at $2,480–$2,500 and then $2,560–$2,580 in focus. A break below the recent $2,320–$2,340 lows could expose the $2,200–$2,280 area, followed by support near $2,150 and $2,070. Earlier levels around $2,490–$2,500 and $2,600 were also identified as potential hurdles during the recovery. Large spot orders have reappeared near $2,400, unlike the earlier period when there was little evidence of whale-sized activity. The data do not reveal whether these trades are buys or sells, so they do not confirm accumulation or distribution. Traders are watching whether Ethereum can hold support and reclaim resistance; until then, the rebound remains unconfirmed.
Neutral
The overall signal for ETH is neutral because the rebound has not been confirmed and the indicators point in both directions. Holding the $2,360–$2,440 demand zone, remaining above the 100-day and 200-day moving averages, and breaking above $2,420–$2,440 would support a short-term recovery towards $2,480–$2,500 and potentially $2,560–$2,580. However, the narrowing descending pattern and resistance overhead leave the rebound vulnerable. A break below $2,320–$2,340 could bring the $2,200–$2,280 area into view, with further supports near $2,150 and $2,070. The earlier $2,660–$2,740 supply zone remains a larger obstacle to a sustained recovery. The return of large spot orders near $2,400 may increase attention and volatility, but without evidence of whether they are buys or sells, it does not establish a bullish or bearish flow. In the short term, traders may react to breaks of support or resistance; over the longer term, a sustained reclaim of resistance would be needed to strengthen the recovery case, while a decisive support failure would increase downside risk.