ETH is facing its biggest battle yet to push price out of the bear market. This battle is unfolding in the price region between $2,350-$2,450, and here is why.
First, review my last post on ETH:
So far this has marked the local high for ETH, with the daily candle bodies closing directly below the upper black trendline, which has led to today’s drop.
Today’s and tomorrow’s closes will be critical, and they need to be watched across two separate timeframes. Today’s candle only has about 30 minutes left as of writing this post, so it will likely close around the level it is currently trading at, near $2,415. However, for this particular close, I am watching the 3-day chart as the one that matters most.
There is both good news and bad news here. Starting with the bad news, ETH has a critical resistance level on the 3-day chart around $2,350. This same level helped predict the double top in April 2026, which ultimately became a triple top and led to the crash toward $1,500. That idea can be found here:
The good news is price appears likely to close above that level this time. However, I have also added a dotted red line around $2,415. This level was the double bottom in June 2025 (green arrows), which could now act as new resistance instead.
Therefore, the true determining factor for this level comes down to the weekly chart, specifically the price level of $2,370. If ETH closes there tomorrow, it still has the potential to set up another downside move afterward. I will make a more detailed post on that scenario if it does end up playing out tomorrow, but wanted to lay it out in advance.
Why $2,350 to $2,450 Matters So Much to Sellers
There are a few additional reasons this range has been so significant to sellers, which can be found in these past ideas for reference:
The final thing worth noting is the RSI structure. After a perfect bounce from oversold conditions on the 3-day timeframe, the 3-day RSI is now entering overbought territory. If strength starts to show early signs of weakening in this region, watch for a rejection. However, if the 3-day RSI can hold above the 70 level, that could signal renewed strength for the next leg to the upside.
Watch closely how the RSI develops over the next couple of closes.