Will Ethereum open at $2,450 depending on the weekend negotiation results?

▲ Ethereum (ETH)/ChatGPT generated image ©

An analysis suggests that if Ethereum (ETH) maintains the $2,140 support level, there could be room for further upside to $2,450.

According to TradingNews, an investment media outlet, on April 10 (local time), Ethereum rose to $2,273 during the day before taking a breather and is currently trading around $2,217.74. In the short term, the ability to break through the $2,225 resistance and the upcoming Islamabad peace talks scheduled for the weekend have been identified as key variables that will determine its future direction.

Technically, based on the upward trend from the $2,060 low to the $2,273 high, buying interest entered around $2,167, which is the 50% retracement level, and $2,142, the 61.8% retracement level, was presented as a key support line. On the upside, $2,225 is considered the primary resistance, and a breakthrough could sequentially open the way to $2,265, $2,320, $2,400, and $2,450.

However, short-term momentum has somewhat slowed. On an hourly basis, the Moving Average Convergence Divergence (MACD) is losing strength in bearish territory, and the Relative Strength Index (RSI) has fallen below 50, indicating that caution is needed regarding an immediate breakthrough. The media outlet pointed out that the current correction might be a process of cooling down from overheating, but if it fails to hold $2,140, it could fall back to $2,110, $2,060, and even $2,020.

Positive signals have been detected in the derivatives market. According to CryptoQuant data, Ethereum perpetual futures open interest increased by $2.2 billion in 24 hours, reaching its highest level since last month. This trend was interpreted as indicating a potential inflow of new funds rather than just short covering. Additionally, SharpLink's staking revenue increased by 50% quarter-over-quarter to $15.3 million, which was cited as a factor boosting interest in Ethereum's revenue model.

In conclusion, the media outlet suggested the $2,140 to $2,165 range as a key buying zone. While the current price is ambiguous in terms of risk-reward, being between support and resistance, a strategy targeting $2,320, $2,400, and $2,450 after confirming $2,140 support was deemed valid. It also added that with a 55.2% gap from its all-time high of $4,953.73 recorded in August 2025, there is still mid-to-long-term recovery potential.

*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.*