Ethereum price struggles below $2,570 with triangle squeezing upside
Ethereum tests key Fib level as triangle pattern compresses price below breakout threshold
Ethereum (ETH) price is trading near $2,556 on July 4, showing signs of stabilization after reclaiming lost ground earlier this week. The price remains confined within a larger symmetrical triangle on the monthly chart, and while recent gains suggest cautious optimism, bulls have yet to deliver a breakout above key resistance levels that would shift the broader trend.
Highlights
- Ethereum trades at $2,556, testing 38.2% Fibonacci level of the $4,109–$1,383 range
- Monthly triangle remains active, with resistance near $3,100 and support around $2,150
- Short-term RSI and MACD point to cooling momentum below resistance at $2,570
Fibonacci retracement defines pivotal mid-range
ETH price is currently trading around the 38.2% Fibonacci retracement of the long-term decline from $4,109 to $1,383. This zone, between $2,524 and $2,556, has functioned as a neutral area for several weeks. A close above $2,570 could give bulls the momentum to push toward the next Fib target at $2,746, while failure to hold $2,520 could shift short-term sentiment to the downside.
ETH price dynamics (Source: Tradingview)
The larger symmetrical triangle structure remains dominant. Price continues to compress between a multi-year resistance trendline near $3,100 and support at $2,150. Until price exits this wedge, the market is likely to remain in a coiling phase, with limited directional conviction.
Lower timeframe momentum fades as buyers retreat
Intraday charts reveal weakening momentum after Ethereum price failed to hold above $2,630. The 30-minute RSI has recovered from 39 but remains under the 50-neutral line. The MACD shows negative histogram bars with no bullish crossover in sight, reinforcing the notion that short-term momentum is soft. Immediate resistance lies near $2,570, with key support layered between $2,520 and $2,440.
The structure remains mildly bullish while ETH price holds above $2,424, but any close beneath this region could accelerate declines toward $2,370 or lower.
In earlier analysis, Ethereum was testing support near $2,450 with indicators flashing early signs of consolidation. The latest move to $2,556 confirms that the 38.2% retracement level remains pivotal. As long as ETH holds above $2,424 and volume improves, bulls may attempt to challenge higher resistance, though the lack of breakout from the triangle pattern continues to cap upside potential.
