Ethereum is still stuck below the $2,400 area, but higher time frame charts show a wider bullish setup forming. ETH now needs to clear moving average resistance before the $4,900 target comes back into focus.
Ethereum Struggles Below $2.4K as ETH Range Stays in Play
Ethereum remained below the $2,400 area on the weekly chart as price struggled to break above a major moving average zone, according to a TradingView chart shared by Daan Crypto Trades on X.
The chart shows ETH trading inside a wider range between about $2,100 and $2,800. Price has recovered from its earlier low near the $1,750 area, but it has not cleared the upper moving average resistance.
ETH Weekly 200MA and 200EMA Range. Source: Daan Crypto Trades on X
The weekly 200MA and weekly 200EMA sit above the current ETH price zone. These moving averages remain important because they often act as resistance when price trades below them.
However, ETH still holds above the lower part of the marked range. The $2,100 to $2,166 area acts as near term support, while the $2,815 to $2,851 area marks the upper resistance zone.
For now, Ethereum remains range bound. A move above the $2,400 area would put the weekly 200MA and 200EMA back in focus, while a drop below $2,100 would weaken the current recovery structure.
Ethereum Chart Points to $4,900 as ETH Forms Right Shoulder Setup
Ethereum formed a large inverse head and shoulders structure on the three day chart, according to a TradingView chart shared by Ray on X.
The chart shows ETH building a long term base above an ascending support trendline. The left shoulder formed after the 2025 pullback, while the head formed near the lower support area in early 2026.
ETH Inverse Head and Shoulders Setup: Source: Ray on X
Since then, ETH has recovered and moved into the right shoulder area. This structure often appears when buyers regain control after a long correction.
The main target on the chart sits near $4,900. That level aligns with a horizontal resistance area from Ethereum’s previous cycle highs.
However, ETH still needs to continue higher and challenge the upper resistance zone before the setup can fully confirm. A rejection before that area would keep the pattern incomplete.
For now, the chart shows Ethereum holding its broader recovery structure. The key focus remains whether buyers can push ETH toward the $4,900 resistance level.
