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Ethereum Pulls Back To 20DMA After $2,700 Rejection: Testing Strength At Key Support

Sebastian Villafuerte
Sebastian Villafuerte
2 months ago
3 mins read
Ethereum Pulls Back To 20DMA After $2,700 Rejection: Testing Strength At Key Support

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Ethereum is showing renewed strength as it consolidates above the $2,500 mark, signaling resilience in the face of broader market volatility. After several weeks of testing the $2,700 region, ETH remains within striking distance of this critical resistance, keeping bullish momentum alive. Market sentiment has shifted in Ethereum’s favor, with analysts and investors increasingly pointing to the possibility of an upcoming altseason.

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Top analyst Big Cheds shared a technical breakdown, noting that ETH is currently back to a key moving average after flexing a move above the $2,700 range. This move aligned with the underside of a key resistance level, forming a confluence zone that could act as a springboard or rejection point in the days ahead.

While Bitcoin consolidates just under its all-time high, Ethereum appears to be gaining traction as traders look for opportunities beyond BTC. With ETH holding higher lows and establishing a steady base, a breakout above the $2,700–$2,800 range could confirm a broader market rotation into altcoins. For now, bulls must maintain control above $2,500 to keep the structure intact and fuel hopes of a move higher.

Ethereum At A Pivotal Level As Bulls Defend Support

Ethereum is facing a crucial test as it struggles to reclaim higher prices and confirm a sustained uptrend. After multiple attempts to break above the $2,700 resistance zone, the price has been met with volatility, creating a choppy environment that reflects broader uncertainty in the crypto market. Despite this, analysts remain optimistic about Ethereum’s prospects, especially as altseason chatter grows louder.

Cheds recently shared a key insight: Ethereum is now back at its 20-day moving average (DMA) after briefly surging above the $2,700 range. This push met the underside of the 200-day simple moving average (SMA), creating a confluence zone that could act as the launchpad for the next rally, or the line in the sand that decides short-term direction. Holding this DMA support is critical. If bulls defend this level, it could signal renewed strength and spark a breakout that sends ETH back toward $3,000 and beyond.

Ethereum testing key support | Source: Big Cheds on X
Ethereum testing key support | Source: Big Cheds on X

Amid rising speculation and technical pressure, Ethereum’s current structure still leans bullish. It’s maintaining higher lows and continues to show signs of accumulation, which supports the thesis of a possible altseason in the near future. If BTC stabilizes and ETH clears resistance, the entire market could shift upward rapidly.

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Ethereum Tests Key Weekly Resistance – Analyst Sets $4K Target If ETH Breaks Out

Ethereum Tests Key Weekly Resistance – Analyst Sets $4K Target If ETH Breaks Out

2 months ago

Ethereum Tests Support At Key Short-Term Levels

Ethereum is consolidating on the 4-hour chart as it hovers around $2,614, following a minor pullback from the $2,780 local top. The chart shows ETH retesting the 34-period EMA (currently near $2,624) and finding short-term support along the confluence of the 50 and 100-period SMAs. These moving averages are acting as a dynamic support band that has held firm during previous retracements in May.

ETH ranging below $2,700 | Source: ETHUSDT chart on TradingView
ETH ranging below $2,700 | Source: ETHUSDT chart on TradingView

The structure remains bullish overall, with higher lows maintained since the breakout on May 9. However, the current price action is forming a tightening wedge pattern, which suggests that a breakout—either up or down—is imminent. Volume has been declining slightly, indicating a potential pause before a decisive move.

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Ethereum Spot Premium Signals Strength – $2,800 Resistance In Focus

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For bulls, holding above the $2,580–$2,600 zone is critical. A clean bounce from here could set up another attempt to break the $2,700–$2,800 resistance area. On the flip side, a break below the 100 SMA could expose ETH to a deeper retracement toward $2,500 or even the $2,400 zone if selling pressure accelerates.

Featured image from Dall-E, chart from TradingView

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Sebastian Villafuerte
Sebastian Villafuerte

Sebastian Villafuerte

Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.

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To share his insights with others, Sebastian became an active contributor to online discussions on platforms like X and LinkedIn. His focus on fintech and crypto-related topics quickly established him as a trusted voice in the online crypto community. Sebastian's goal was to educate and inform his audience about the latest trends and insights in the rapidly evolving crypto landscape.

To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance and decentralized finance. The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.

Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K reports, or engaging in thought-provoking discussions about the future of finance.

Sebastian's journey as a crypto pioneer has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable contributor to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and helping to shape the future of this revolutionary technology.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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