- Ethereum has stabilized close to the key $2,700 resistance following a rebound from its drop in mid-April.
- RSI stays stuck at neutral, but the MACD shows bearish momentum, indicating uncertainty this week.
- Should Ethereum rise above $2,700, there may be further gains; on the other hand, failing to break out could push the price down to $2,400 or lower.
Ethereum (ETH) is once again testing a critical resistance zone after staging a strong recovery from its mid-April lows. As of the latest data from CoinMarketcap, ETH was trading at $2,633.18, representing a 2.0% increase in the last 24 hours.
It also shows a slight rise of 2.2% against BTC (0.02416), as the price remains close to an important level where it could face resistance. Despite the short-term rise, technical data on the daily chart suggests ETH is facing an important moment that could shape its future in June.
Key Support and Resistance Levels in Focus
According to the analyst Rovercrc chart, Ethereum recently bounced sharply from the $1,800–$1,900 range, where it formed a solid base in mid-April before breaking above the $2,280 resistance. The recovery has moved Bitcoin back close to a significant supply zone between $2,620 and $2,700 which was strong support before the breakdown near the end of March.
Currently, Ethereum is testing the upper boundary of this zone, with resistance marked at $2,700.22. Below, $2,581.12 acts as immediate support—a former resistance turned support zone after the recent breakout.
Technical Indicators Signal Mixed Reaction
The Relative Strength Index (RSI) is currently at 58.84, suggesting that Ethereum is in a neutral zone with no strong momentum in either direction. Meanwhile, the MACD indicator paints a more cautious picture for the short term.
Source: TradingView
The MACD line remains below the signal line, and the histogram is in negative territory—both of which indicate lasting downward momentum and a lack of bullish confirmation for now.
Market Implications and Future Outlook
The compression between support at $2,581 and resistance near $2,700 reflects market indecision. A bullish breakout above $2,700 could open the door for a retest of the $2,900–$3,000 range seen in February 2025. Conversely, a rejection at current levels could signal a short-term top, pushing ETH back toward the $2,400 or even $2,280 level. Given the recent strong rally, a period of consolidation may follow unless a strong catalyst emerges. A breakout or rejection here could define ETH’s next major move as June approaches.
