Ethereum (ETH) Price Prediction: Can ETH Break $2,350 or Is a Pullback Towards $2,000 Next?

Ethereum price is entering a decisive phase as price pushes into key resistance while underlying on-chain and order flow dynamics begin to shift. The latest data suggests a mix of building bullish pressure and short-term traps, creating a high-stakes environment for the next move.

According to Brave New Coin data, Ethereum (ETH) is currently trading near $2,194, holding above recent support while testing overhead supply zones.

Ethereum Price Faces Sell Wall Clusters Near $2,275–$2,350

From a market structure standpoint, Ethereum price has already cleared an initial layer of sell-side liquidity, which helped price reclaim the $2,200 region and build short-term momentum. As highlighted by CW8900, this move confirms buyers are stepping in on dips, particularly around the $2,150–$2,180 demand zone.

Ethereum faces dense sell wall resistance near $2,275–$2,350 as price grinds higher, with buyers defending the $2,150–$2,180 demand zone. Source: CW8900 via X

However, the next key resistance now sits overhead between $2,275 and $2,350, where a thicker sell wall is clearly visible. This zone has historically capped upside attempts and remains the immediate barrier for continuation. Rather than a clean breakout, ETH is currently approaching this region with a gradual grind, suggesting liquidity is being absorbed progressively.

If price manages to sustain above $2,275, it opens the path towards a test of $2,320–$2,350, where a more decisive reaction is expected. Failure to break this zone could result in a pullback towards the $2,150–$2,180 support block, which continues to act as the key short-term demand area.

Repeating Structure Signals Potential Trap Setup

Ethereum’s current price action is beginning to resemble a familiar structure, where a sharp rejection follows a relief bounce into resistance. Rather than a simple continuation attempt, this looks more like a repeat pattern forming under a key supply zone.

Ethereum forms a rejection fractal near $2,300–$2,350, hinting at a potential downside trap. Source: Ted Pillows via X

As highlighted by Ted Pillows, ETH is once again pushing into the $2,300–$2,350 resistance range, where previous rallies have failed. The recent move into this zone lacks strong follow-through, and price is already showing signs of rejection, mirroring the earlier distribution phase before the last major drop.

If this fractal continues to play out, Ethereum price could see another leg lower, with $2,000 as the first key level, followed by a potential sweep towards the $1,800 region. The structure only shifts bullish if ETH can break and hold above $2,350, otherwise, this remains a classic setup where late upside momentum gets faded.

Higher Timeframe Structure Still Allows Deeper Sweep

While the lower timeframe is showing signs of a repeating rejection setup, the higher timeframe structure adds more context to this view. As highlighted by Ali Charts, Ethereum continues to trade within a broader range, where downside moves can still occur without breaking the overall structure.

Within this framework, key levels to watch sit much lower at $1,550 and $1,070, which act as major historical support zones. These levels are not immediate targets, but they define where the price could eventually find strong support.

Ethereum’s broader range still allows a deeper sweep towards $1,550–$1,070, keeping downside risk intact despite short-term strength. Source: Ali Charts via X

This aligns with the ongoing fractal narrative, where short-term strength into resistance is followed by a rotation lower before any sustained trend shift. Unless Ethereum can reclaim higher resistance levels, the broader structure still supports the possibility of one more downside move before a larger recovery phase begins.

Staking & Ethereum’s Supply Dynamics

On the fundamental side, Ethereum continues to strengthen. Recent data shared by Cointelegraph shows that ETH staking is reaching new highs, with platforms like Gate reporting over 176,500 ETH staked, alongside an annual yield of around 4.11%.

This ongoing increase in staking participation continues to reduce liquid supply in the market, creating a structural tailwind over time. As more ETH is locked, the available supply tightens, meaning even moderate demand can have a stronger impact on price. This dynamic supports the broader bullish case, even as short-term volatility persists.

Final Thoughts: Short-Term Technical Outlook for Ethereum

Ethereum price is now trading just below a key resistance zone near $2,275–$2,350, where price has repeatedly struggled to gain acceptance. The recent push higher shows buyers are still active, but the lack of strong continuation above this region suggests that supply remains dominant for now.

Ethereum was trading at around $2,194, down 2.94% in the last 24 hours at press time. Source: Ethereum price via Brave New Coin

In the short term, holding above the $2,150–$2,180 support zone will be important to maintain structure. A sustained move above $2,350 would shift momentum back in favor of buyers and open the path towards $2,500, while continued rejection keeps the risk of a rotation towards $2,000–$1,850 in play.