Ethereum Price Analysis Powered by AI

Ethereum at a Pivotal Base: Technical Confluence Signals Imminent Upswing

Long-term Trend (3-months): The daily chart reveals a classic uptrend off the March/April 2025 lows (~$1555), with a powerful rally peak near $2824 (June 10), followed by a prominent retracement. Recent price structure forms a prominent triangle/consolidation, the range tightening significantly between $2400 and $2600 for June, now gravitating toward $2440 (current price).
Short-term Trend (Past Week): ETH has been correcting from the $2800s, finding support mid-range ($2400-$2450) after multiple attempts to break below $2400. Volatility has compressed, forming a potential base and suggesting market exhaustion on the downside.
Candlestick Patterns (Latest 24h): Repeated long lower wicks on hourly candles at $2400–$2420 signal demand absorption; most hourly closes recover from intraday lows, forming a tentative swing-low structure.

Volume Surge Points: Spikes in volume coincide with sharp sell-offs (e.g., June 21–22, $23B+), suggesting capitulation and possible demand zones created around $2228–$2400. Since then, volume declines on subsequent drops, indicating sellers' exhaustion.
Recent Session Volume: A notable increase during up-thrusts above $2430 (latest hour shows >$4B), hinting at bullish activity resuming.
Conclusion: This volume trend plus price holding above $2400 is supportive of a near-term base.

50-EMA & 200-EMA: With prices oscillating close to (possibly just below) their 50-period and 200-period exponential moving averages on the daily, the zone ~$2430–$2460 represents a critical inflection. A close above $2460 would be a bullish confirmation; current price near support strengthens the risk/reward for a long trade.
MACD (Daily & Hourly): The MACD histogram on the daily is flattening after a bearish phase, with hourly MACD about to cross above its signal — classic setup for a short bounce/rally.
RSI: Hourly RSI at 35–45, oversold for a week; daily RSI bottomed in the mid-30s and is ticking higher. Reversal from oversold territory strongly favors upward movement.

Strong Support: $2400-$2410 (multiple intraday bounces, major previous resistance in April and May).
Nearest Resistance: $2460/$2480 (minor), then $2550.
Fibonacci Levels: The $2440 current level is roughly the 61.8% retracement of the last major upswing from $2228 to $2825, classic reversal territory. A bounce is historically probable from this level.

Accumulation Zones: Price action post-June 21 shows higher intraday lows, a gentle upward sloping base — a potential ascending triangle on intraday charts. This is generally a bullish continuation pattern.
No Major Breakdown: Despite repeated attempts, $2400 has not been violated on a closing basis, signaling strong buyers' presence.

ATR: 24h Average True Range has sharply declined, suggesting that range contraction is due for expansion — typically, a larger move follows such ‘squeezes’.
Sentiment: Funding rates (not shown here, but typically positive during uptrends) and order book analysis would likely show absorbed liquidity at $2400, bullish for the near-term.

Elliott Wave: The corrective wave from $2800 appears to be in its final leg (possibly ABC with C near complete at $2400). If so, a short-term impulsive move higher — Wave 1 of a new cycle — is about to begin.
Harmonic Patterns: Potential bullish Gartley or Deep Crab forming around $2400—these patterns predict upward reversal to $2500–$2550 targets.

Order Blocks: Key demand orders previously executed at $2410–$2430; repeated defense seen these hours. Large players seem to be accumulating here, expecting a move to upper resistance bands.

The confluence of multiple technical criteria — higher lows, trapped bears below $2400, compression of volatility, major support holding, and bullish reversal signals from momentum oscillators—suggests a likely upward movement in the next 24 hours.
A tactical long entry is favored: Buy near current price ($2439), with a take-profit at the lower edge of next resistance band ($2479), to capture the imminent breakout while containing risk if the base fails.
If price spikes sharply toward/above $2480 with strong volume, expect next leg to $2550, but for a 24h tactical swing, $2479 is pragmatic.