- Ethereum maintains strength above $2,400 despite correction, facing key resistance at $2,520 and $2,550.
- Crypto analyst LSTRADER sees bullish potential if Ethereum rebounds strongly from the $2,200 zone.
- A break below $2,320 could trigger a decline toward $2,250 or a retest critical $2,200 level.
Ethereum price has regained strength above $2,400. The price surged past resistance at $2,350 and $2,450, entering a bullish zone. It even surpassed the 76.4% Fib retracement level from the $2,569 high to the $2,115 low, showing bullish dominance before facing resistance near $2,520.
Despite the initial surge, ETH corrected slightly, moving below the 23.6% Fib retracement of the $2,114 to $2,520 rally. A break below a bullish trend line at $2,450 also occurred. However, Ethereum still trades comfortably above $2,400 and the 100-hourly SMA, showing resilience in the short-term market structure.
Also Read: Ethereum Price Outlook: Head & Shoulders Pattern Signals $5.8K Surge
Ethereum Faces Key Resistance Near $2,550
The immediate upside hurdle lies at $2,500, followed by a stronger resistance at $2,520. A clear move beyond $2,550 could push ETH toward $2,600. If bulls succeed in breaking $2,600, ETH might rally further to $2,720 or even $2,800, solidifying its position in a broader bullish structure.
Adding to this optimism, a recent update from crypto analyst LSTRADER focused on Ethereum’s Power of Three (PO3) chart pattern. He highlighted potential movement between the $2,200 support and a $2,700 upside, offering traders a visual scenario map to understand the asset’s evolving market behavior in the current range.
LSTRADER’s analysis pointed to exciting formations within the updated chart. Although the chart remains private, he emphasized its significance due to visible trading opportunities. Ethereum’s behavior around $2,200 will likely decide the trend, acting as either an accumulation zone or a deviation point before a reversal.
Traders Watch Ethereum’s Reaction to $2,200 Level
The analyst’s sentiment combined caution and optimism, reflecting broader market indecision. Traders should be on the lookout for possible confirmatory indications to appear within the PO3 framework in order to make their final investment decisions. A jump to almost $2,200 is likely to draw everyone’s interest. It may be that the key players’ actions will shape the new direction of Ether’s trend.
If Ethereum fails to breach $2,520, there will be a return of downward threats. Support lies first at $2,400, with stronger backing near $2,320. An ongoing fall below $2,320 is a situation that could push the numbers to $2,250 and finally to the level of testing the $2,200 floor. Under $2,200, a decline is possible and may reach $2,150 in the short term.
Also Read: Ethereum Nears Key ETF Decision, How 35M ETH Staked Could Impact the Market
