Ethereum Price Analysis: Is a Drop to $2.4K Next After ETH’s Latest Rejection?

Ethereum is consolidating below $2.7K after a sharp recovery from the June lows. The charts show a constructive medium-term structure, although momentum has cooled after ETH failed to sustain its move into the $2.7K resistance area. The key question now is whether the price can hold above the rising trendline and the nearby demand zone around $2.4K. Ethereum Price Analysis: The Daily Chart On the daily timeframe, ETH has undergone a significant structural improvement since the June low near $1.5K. The asset has formed a sequence of higher lows along the ascending trendline and recently broke above the $2.4K area, which had previously acted as resistance. The breakout accelerated ETH toward the $2.7K region, where the market encountered a clearly defined resistance zone. The price briefly pushed toward $2.8K before retreating, and the latest candles show a modest pullback around $2.68K. This suggests that buyers have yet to establish a sustained breakout above the upper resistance band. The most immediate support is around $2.4K, where the latest consolidation occurred. The moving averages also provide an important structural reference. The 100-day and 200-day moving averages are co...