Ethereum is testing a key support area while traders watch whether buyers can hold the latest pullback. At the same time, resistance levels at $2,400 and $2,665 keep the upside path crowded.
Ethereum Pullback Puts $2,222 to $2,036 Support Zone in Focus
Ethereum may be entering a wave two pullback, with chart analyst Man of Bitcoin pointing to a support area between $2,222 and $2,036. The setup mirrors a similar view on Bitcoin and suggests ETH could face more short term downside before any stronger bullish continuation appears.
ETH/USD 4 Hour Chart. Source: Man of Bitcoin
The 4 hour chart shows Ethereum trading near $2,311 after pulling back from the recent local high around the $2,380 area. The analyst marked the current move as a possible corrective decline, with Fibonacci support levels stacked below price. Those levels include $2,222, $2,166, $2,111, and $2,036, which together form the main support zone for the expected wave two retracement.
At the same time, the chart keeps a broader bullish structure on the table as long as ETH holds that lower area. A white projected path shows the pullback finishing before a possible push higher in a larger wave three move. However, if Ethereum loses the $2,036 level, the chart opens room for a deeper drop toward lower downside targets shown near $1,755 and $1,387.
For now, the analysis suggests Ethereum remains in a correction phase rather than a confirmed breakdown. The key question is whether buyers step in between $2,222 and $2,036. If they do, the pullback could stay within a bullish wave structure. If not, downside pressure may grow and push ETH into a much deeper retracement.
Ethereum Near Buy Wall as $2,400 and $2,665 Mark Next Resistance Levels
Ethereum is moving toward a key buy wall zone, while overhead resistance continues to build, according to chart analysis shared by trader CW on X.
ETH/USDT 1 Hour Chart. Source: CW on X
The 1 hour ETH/USDT Binance chart showed Ethereum trading near $2,317.50 as price drifted lower into a green support area. CW said that zone represents the buy wall, where buyers may step in and try to slow the pullback. The chart also showed that ETH recently failed to hold above the nearby resistance band after a sharp move higher.
Above current price, the first sell wall stands at $2,400. That level now acts as the nearest resistance and could limit any short term rebound. Beyond that, the next major sell wall sits at $2,665, marking a much higher barrier if Ethereum regains upward momentum.
For now, the setup points to a test of support first. If the buy wall holds, Ethereum could attempt another push toward $2,400. However, if price breaks below the support zone, the chart would suggest weakening short term demand and raise the risk of a deeper pullback.
