Key Insights:
- Ethereum price tested the $2,800 resistance zone after breaking above the key $2,464 market structure level.
- ETH crypto weekly close above the 100-week SMA could open the path toward the $3,400 resistance area.
- ETH could retest the $2,550 support zone if price fails to hold above the 100-week SMA.
Ethereum traded near $2,750 on Sept. 23 following a test of the $2,800 region during its most recent recovery.
Data from CoinGecko positioned ETH around $2,749, with a seven-day trading peak reaching $2,804.42. The digital asset advanced approximately 13.9% over that timeframe.
The provided weekly chart situates Ethereum just under its 100-week simple moving average, which is located near $2,762. Securing a weekly close above that threshold would reinforce the technical framework, whereas a rejection could redirect attention back toward the $2,550–$2,560 support band.
Ethereum Price Tests the 100-Week SMA
The cryptocurrency climbed to about $2,807 prior to retreating toward a range of $2,725 to $2,730. This price action brought the asset straight into a significant weekly resistance cluster, where the 100-week SMA resides near $2,762 alongside an additional chart-marked resistance level around $2,800.
Analyst Ted Pillows noted that a weekly close for Ethereum will help determine its upcoming direction. His analysis places the 100-week EMA near $2,559, and ETH currently maintains its position above that faster support line. A close past the 100-week SMA would bolster the argument for sustained recovery directed at the upper resistance band.
The weekly candle opened close to $2,645, surged as high as $2,807, and subsequently moderated. This leaves the closing price near $2,728, roughly $34 under the 100-week SMA displayed on the chart. Consequently, ETH requires more than a temporary intraday breach to validate bullish strength above this moving average.
ETH Crypto Breakout Changes the Market Structure
On the four-hour timeframe, ETH advanced past the $2,464 change-of-character level. Crypto Patel highlighted this movement as the moment the prior bearish structure relinquished control, allowing Ethereum to push to approximately $2,806—its highest mark since late January.
Furthermore, the chart displays a pattern of higher lows following the rebound from June’s low near $1,500. Buyers successfully defended the $1,800–$1,900 zone before driving the price through $2,464, establishing that specific threshold as a critical level should ETH experience a pullback from its current resistance.
Ethereum Price Faces Liquidity Near $3,000
The subsequent charted resistance is positioned between $2,900 and $3,055. Crypto Patel defines this zone as a bearish order block and liquidity pocket. For ETH to clear a path toward the higher $3,400 region, it must first work through this range.
The weekly chart identifies the following major resistance level near $3,447, aligning closely with the $3,300–$3,400 target outlined in Ted Pillows’ Ethereum forecast. Both charts therefore signal a comparable upside target, though each necessitates that ETH break through immediate resistance first.
Additionally, the chart maintains $2,800 as an individual horizontal barrier. Although ETH tested this zone, it has not yet secured a sustained close above it. Successfully conquering both $2,762 and $2,800 would eliminate two nearby obstacles, shifting the primary technical focus toward the $2,900 to $3,055 supply zone.
Trading metrics additionally reflect heightened activity accompanying the latest movement, with Ethereum advancing roughly 12% over the past week. The expanded trading range demonstrates that ETH tested resistance, while the subsequent retracement toward $2,730 kept prices clustered near the weekly moving averages.
ETH Crypto $2,550 Support Defines the Near-Term Risk
Initial downside support is located around the $2,550 to $2,560 bracket. The weekly chart positions the 100-week EMA near $2,559 while marking support close to $2,548. A failure to break past the 100-week SMA risks drawing the price back toward this zone.
Beneath that threshold, the weekly chart highlights an additional support band near $2,190. The four-hour chart also delineates a fair value gap around $2,053 alongside stronger support near $1,907, with Crypto Patel identifying a deeper retracement floor between $2,100 and $1,900.
This article is for informational purposes only and does not constitute financial or investment advice. Technical levels and analyst projections do not guarantee future price movements.