Ethereum (ETH) is retesting the $2,450 resistance for the third time this month, a level analysts say could either unlock a rally toward $2,900 or trigger another rejection.
ETH Retests $2,450 Ceiling
ETH climbed 3.6% on Wednesday and tapped $2,425 intraday, according to technical breakdowns.
The move extends a 15% rebound from April's lows and marks the first time in three months that ETH has held the upper half of its $1,800 to $2,450 range.
Last Friday the token reached a three-month high of $2,464 before slipping back below resistance.
Analyst Crypto Rand argued that consolidation above $2,450 would trigger a major bullish reversal, while Daan Crypto Trades noted the weekly 200 moving average sits at the same level, lost as support in mid-January.
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Analysts Split On ETH Path
Not everyone is convinced. Trader Ted Pillows warned that spot demand remains stagnant, raising the risk of a liquidity grab similar to the January rejection near $3,400.
Ali Martinez took the opposite view. He pointed out that ETH's SuperTrend indicator has flipped bullish for the first time since the first half of 2025, opening a measured path to $2,900 if buyers clear $2,385.
Ethereum has traded between $1,800 and $2,450 since the February crash, failing on multiple breakout attempts before the current recovery fueled by easing US-Iran tensions.
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