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Ethereum is trading near a key decision zone as analysts track two different short term paths. $ETH must hold the $2,300 area or break higher to avoid a deeper move toward lower support.
$ETH Chart Shows Final Push Setup Before Pullback
$ETH trades near $2,312 on the 4 hour chart, while the analyst tracks an expanding diagonal structure. The setup still keeps a bullish path open if price makes one more push above the recent high.
ETHUSD 4H Expanding Diagonal Setup. Source: The Penguin
The chart marks a possible move toward $2,520 to $2,600. However, $ETH must move past the previous wave top to validate that path.
The key invalidation level sits near $2,177. A clean break below that level would weaken the bullish count and increase the chance of a deeper correction.
The pullback zone appears around $2,160 to $2,200, with lower Fibonacci levels marked near $2,040, $2,020, and $1,920.
Overall, $ETH still holds a bullish structure, but the chart needs one final breakout to confirm it.
$ETH Price Risks Drop Toward $2,200 Support
$ETH trades near $2,308 on the 2 day chart, while price struggles to hold above the $2,300 area. The chart shows this zone as a short term decision point.
ETHUSDT 2D Support and Resistance Setup. Source: Ted Pillows
If $ETH loses this level, the next support sits around $2,150 to $2,200. A move into that range would match the analyst’s correction setup.
However, $ETH still has resistance near $2,400. A clean break above that area could reopen the path toward $2,620 and then $2,750 to $2,800.
The deeper downside level sits near $1,790, with another major support near $1,694. For now, the chart shows pressure near resistance, while weakening spot demand keeps the pullback risk active.