Ethereum 'Frustrated' at Resistance Line... Rebound Blocked, Downward Pressure Intensifies

▲ Ethereum (ETH)

Ethereum (ETH) has repeatedly failed to break through the $2,365 resistance level, losing upward momentum and appearing to be trapped in a bearish trend.

According to crypto media outlet NewsBTC on April 22 (local time), despite recent attempts to rebound, Ethereum encountered strong selling pressure near $2,365, blocking its ascent. In the short term, the price is testing support in the range below $2,200.

The technical structure also presents a significant burden. Market analysis suggests that the price remains below key moving averages, maintaining a downtrend. In particular, a pattern of lower highs with each rebound confirms that buying interest is gradually weakening.

Downward risk remains open. It is assessed that if major support levels break, further declines could follow rapidly. The market is wary of the possibility that selling pressure could intensify if the short-term support zone is not maintained.

On the other hand, some views consider the current phase as a short-term correction. Analysis suggests that there is still room for a technical rebound, coinciding with entry into an oversold zone. However, the prevailing assessment is that it is too early to conclude an upward reversal given the limited rebound without clear trend reversal signals.

Ethereum is showing a high probability of continuing a volatile market until its direction is confirmed, as the failure to break key resistance and the bearish structure align.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*