Ethereum struggles to reclaim $2,200 as bearish sentiment persists despite potential breakout signals

Ethereum (ETH) has been facing significant challenges, struggling to reclaim higher prices around the $2,200 level despite multiple attempts. The overall market sentiment remains bearish, with ETH continuing to experience selling pressure even after the announcement of the US Strategic Bitcoin Reserve, which was expected to boost confidence in the crypto sector.

As ETH hovers near critical demand levels, analysts are closely monitoring the next week to determine its short-term direction. If bulls can defend key support zones, Ethereum may have a chance to regain momentum. However, failure to hold these levels could lead to further downside pressure.

Top analyst Carl Runefelt shared a technical analysis highlighting that Ethereum is breaking out of a descending triangle pattern, which often signals a potential breakout. If ETH follows this setup, it could push into higher resistance zones and reclaim key price levels above $2,500. However, confirmation of this breakout is needed, as market volatility remains high.

Ethereum has suffered a steep decline, losing over 50% of its value since late December, triggering fear and panic selling across the market. Once a leader in previous bull cycles, ETH is now struggling to regain momentum, leading many analysts to question whether the long-awaited altseason will happen this year. With Ethereum and most altcoins unable to reclaim bullish structures, the market remains under bearish control, keeping investors cautious.

Despite the negative sentiment, there is still hope for a recovery as Ethereum approaches key technical levels that could determine its next move. Runefelt’s remarks reveal that ETH is breaking above a descending triangle pattern, a setup that often signals a trend reversal. However, confirmation is crucial, as many past breakouts have turned into fakeouts, trapping traders in further downside moves.

For Ethereum to solidify a bullish breakout, it must push above and close above $2,300. This level is a key resistance zone, and flipping it into support would indicate renewed buying strength, potentially opening the door for a push toward $2,500 and higher price targets.

Until this confirmation happens, Ethereum remains at risk of further declines if sellers regain control. Traders and investors are closely watching whether ETH can maintain its breakout attempt or if it will face another rejection, extending its bearish trend into the coming weeks