Ethereum price stalls below $2,500 as volatility builds near key triangle resistance
Ethereum fails to hold above $2,500 as bearish signals emerge near triangle resistance
Ethereum (ETH/USD) is showing signs of exhaustion below the $2,500 mark after an early session breakout attempt on June 30 failed to sustain. The cryptocurrency briefly spiked to $2,520 but was swiftly rejected, suggesting that significant supply remains active above this psychological threshold.
Highlights
- Ethereum trades near $2,459 after rejection from $2,520 spike above key resistance
- MACD and RSI point to short-term weakness as descending triangle structure remains intact
- A close below $2,423 risks further downside to $2,244; breakout above $2,500 could target $2,700
As of writing, Ethereum trades near $2,459, with multiple technical indicators pointing to weakening bullish momentum and an uptick in volatility.
Supply zone rejection keeps ETH range-bound
Short-term charts reflect a fading bullish impulse. On the 30-minute timeframe, the Relative Strength Index (RSI) has slipped to 41.64 after peaking earlier, while the MACD shows a clear bearish crossover, both indicating a loss of upward pressure. Ethereum’s pullback from the $2,520 high came just as it attempted to clear the 20 and 50 EMA zone near $2,465, reinforcing this area as short-term resistance.
ETH price dynamics (Source: TradingView)
The 4-hour chart paints a broader picture of consolidation. Price remains trapped within a descending triangle, with the lower boundary anchored between $2,390 and $2,420. Bollinger Bands are starting to widen again after a compression phase, suggesting that the next directional move could be sharp. The upper band, around $2,492, serves as immediate resistance, while $2,398 marks the near-term support band.
Daily structure signals pivotal juncture
Ethereum’s daily chart reveals an upward-sloping pitchfork channel, with price currently hovering near the PF1 0.5 S median line at $2,423. This level has acted as a pivot in recent sessions. A daily close below it would likely expose the token to deeper support at $2,244, which aligns with the S3 monthly pivot and a key Fibonacci retracement level. On the upside, a sustained breakout above $2,500 could open the door to $2,700 and possibly $2,813, where the R3 pivot and upper channel boundary align.
Market momentum remains neutral-to-bearish as the MACD continues to trend downward across multiple timeframes. The failed rally toward $2,520 appears to have triggered a local distribution phase, with bullish conviction waning. Traders are advised to monitor price behavior around $2,450–$2,500 closely, as this range remains the battleground between bulls and bears heading into July.
In previous coverage, Ethereum was noted to be trading within a compressing structure beneath $2,500, with momentum hinging on a breakout from the triangle. That setup remains in play, and with volatility returning, the next confirmed move outside the $2,400–$2,500 band could define ETH’s direction for early July.
