Ethereum Faces Bearish Pressure at $2,430 Support Level

Ethereum is currently facing significant pressure at the $2,430 support level, which it has tested three times since May. Despite recent rebounds, the weakening momentum suggests that bulls are losing their short-term advantage. The cryptocurrency's price action is entering a critical zone, with technical patterns indicating a potential shift towards a bearish breakdown.

Ethereum's price has been struggling to regain mid-range control following a sharp drop from $2,550. The 4-hour chart reveals key vulnerabilities across the $2,315–$2,430 corridor. The failure to maintain former support at $2,390 reinforces short-term bearish momentum and casts doubt on any potential upside recovery. The horizontal structure from the $2,796 peak down to the current zone defines a descending rhythm, with Ethereum printing lower highs across each rally rejection, emphasizing seller strength.

Price now floats in a transitional zone where liquidity remains thin, further amplifying volatility risk. Ethereum needs a firm recovery above $2,430 to shift the short-term structure toward neutral. Until then, downward bias remains valid with an open inefficiency below $2,315. Candlestick behavior shows increased volume on each breakdown attempt, with Ethereum piercing below the $2,390 mark with a notable spike in sell-side activity, pushing price into the chart’s “Danger Zone.” That volume expansion confirms institutional attention at these breakdown levels. Ethereum must now defend $2,315 decisively to avoid cascading liquidation events.

Ethereum has tested the $2,430 support three times since May, revealing consistent demand pressure. This triple interaction signals psychological weight. Yet each rebound grows weaker, reflecting declining buyer conviction. Ethereum again tapped the $2,430 support on June 21, with price rebounding to $2,442.6. Rejection wicks at this level confirm short-term buyer activity. Still, the broader range between $2,430 and $2,900 now looks compressed by descending highs and tightening volatility bands. Ethereum’s recent intraday dip below $2,430 warns of weakening structural integrity.

Volume profile shows consistent order flow around this horizontal base, but with diminishing strength on each bounce. Historical behavior suggests that the more a level is tested, the higher the probability it eventually breaks. Ethereum currently trades just above this threshold, teetering on the edge of a structural shift. Ethereum’s setup remains technically bearish while within this descending formation. Ethereum now balances between a short-term rebound and potential acceleration lower. Ethereum must reclaim $2,450 to delay deeper downside toward $2,200. All eyes stay fixed on the $2,315–$2,430 region as Ethereum’s next move will likely define the upcoming trend.