Ethereum price holds $2,445 as bulls eye breakout above key resistance
Ethereum remains below key resistance levels as price consolidates ahead of breakout
Ethereum is trading at $2,445 on July 2, stabilizing after a modest rebound from June’s lows. Price remains capped beneath the $2,520 resistance zone, with recent gains showing signs of fatigue. Despite a temporary recovery, the broader technical setup continues to reflect hesitation, with no confirmed breakout above key trend levels.
Highlights
- Ethereum trades near $2,445 but faces stiff resistance below $2,520
- MACD and RSI signal weakening momentum on shorter timeframes
- Broader structure stays neutral-to-bearish beneath key Fibonacci level
Price capped by resistance and triangle structure
ETH remains confined within a descending triangle on the daily chart, developing since mid-June. Lower highs and a flat base near $2,420 reflect ongoing consolidation. The asset continues to trade below a dense resistance cluster, including the 0.5 Fibonacci retracement at $2,745 and key moving averages, maintaining pressure on buyers.
ETH price dynamics (Source: TradingView)
On the 4-hour chart, the Bollinger Bands are tightening, signaling volatility compression. Ethereum trades below the 100 and 200 EMAs, currently between $2,447 and $2,463. A daily close above this band could encourage a test of the $2,745 level. If support at $2,420 fails, a decline toward $2,300 or lower may follow.
Momentum stalls as indicators turn cautious
Short-term indicators reflect fading bullish momentum. The RSI on the 30-minute chart has dropped to 50.7 from an earlier high near 65, while the MACD histogram is flattening with signs of a bearish crossover. These developments point to a lack of conviction, suggesting ETH may remain range-bound unless new demand enters the market.
As previously discussed, Ethereum has failed to reclaim the $2,520 threshold since mid-June, keeping price action biased sideways. Only a strong daily close above that level would signal a potential shift in structure and open the door to higher resistance levels.
