Ethereum is showing promising signs of a bullish reversal on the 4-hour timeframe after an extended period of bearish pressure. Price has rebounded strongly from the $2,200–$2,225 supporting area, where buyers demonstrated significant demand and prevented further downside.
1. Trendline Breakout & Momentum Shift
The most important development is the breakout above the descending trendline that had controlled ETH's price action for several weeks. This breakout, supported by a strong bullish impulsive candle, indicates a potential shift in market structure and suggests that buyers are gradually gaining control.
2. Bullish Retest Opportunity
Following the sharp upward move, ETH is consolidating around $2,430. A minor retracement toward $2,400–$2,375 could provide an opportunity for buyers to establish another bullish leg. Holding above the broken trendline will be important for maintaining the recovery structure.
3. Upside Targets
- TP1: $2,500
- TP2: $2,525
- TP3: $2,600
- Extended target: $2,750
4. Key Technical Levels
- Current price: $2,431
- Immediate support: $2,375–$2,400
- Major supporting area: $2,200–$2,225
- Resistance: $2,500–$2,525
- Major supply zone: $2,750
Overall Outlook:
ETH is attempting to transition from a prolonged bearish structure into a bullish recovery. The descending trendline breakout and strong reaction from the demand area provide encouraging signals. A sustained move above $2,500–$2,525 could strengthen bullish momentum and potentially open the path toward $2,600 and eventually $2,750.
The key confirmation will be whether Ethereum can maintain its position above the broken descending trendline and convert $2,500 resistance into support.
