Ethereum Price Prediction: Is ETH’s 7% Weekly Drop Just the Start?

Ethereum is testing a critical support confluence below $2.4K as its correction continues. Buyers have defended the area with several sharp reactions, but persistent lower highs suggest that selling pressure has yet to ease. Ethereum Price Analysis: The Daily Chart On the daily timeframe, ETH has declined into the highlighted $2.36K–$2.44K demand zone, where the lower boundary of the broader ascending channel provides additional support. The asset is currently near $2.36K, with recent lower wicks indicating buying interest beneath the consolidation. However, these reactions have not produced a sustained recovery. Since losing the channel’s midpoint, ETH has continued to form lower highs, keeping the immediate outlook fragile. Buyers need to reclaim the $2.44K demand boundary and then overcome the recent $2.5K–$2.56K resistance area to demonstrate improving strength. Holding the current confluence could support a recovery toward the former consolidation around $2.67K–$2.74K. Conversely, a decisive daily close beneath $2.36K and the ascending channel boundary would weaken the broader recovery structure, increasing the risk of a deeper correction toward $2.2K. ETH/USDT 4-Hour Chart Th...