ETH Price Stalls Below $2.5k, Bulls Await Break From Compression Pattern
Ethereum’s price hovered around $2,556 on July 4, attempting to stabilise following a modest rebound earlier in the week. Despite this, the second-largest cryptocurrency by market cap remains constrained within a long-standing symmetrical triangle on the monthly chart, limiting its upward potential for now.
At present levels, ETH is testing the 38.2% Fibonacci retracement level drawn from the broader move between $4,109 and $1,383. This mid-range zone, stretching from $2,524 to $2,556, has acted as a consolidation area for several weeks. A decisive break above $2,570 may unlock room toward the next retracement target at $2,746. On the other hand, losing grip of the $2,520 region could sour short-term sentiment and invite additional selling.
While the triangle formation continues to compress Ethereum’s price, key structural boundaries are still intact. The upper trendline, representing resistance near $3,100, and the lower bound around $2,150 define the limits of the current range. Until a breakout or breakdown occurs, ETH is expected to trade sideways with limited conviction in either direction.
Momentum indicators on shorter timeframes point to waning buyer interest. Following an earlier push to $2,630, Ethereum failed to maintain its gains. The Relative Strength Index (RSI) on the 30-minute chart has bounced from oversold territory but remains below the neutral 50 level, suggesting subdued strength. The Moving Average Convergence Divergence (MACD) also displays a weakening bullish bias, with no confirmed crossover.
Immediate resistance is positioned around $2,570, while the first layers of support lie between $2,520 and $2,440. The broader structure retains a mildly bullish stance as long as ETH stays above $2,424. However, if this level fails, the price could retreat to $2,370 or lower.
A previous test of support around $2,450 hinted at possible consolidation. The current hold near $2,556 reinforces the importance of the Fibonacci zone, though continued indecision within the triangle formation may keep Ethereum’s next big move on pause until a breakout confirms a new trend direction.
