The 4-hour chart reveals a tight range between $2,500 and $2,600. If ETH falls below $2,450, it might slide to $2,200 or even $2,050, with another support level near $2,100 at the 100-day MA. The recent price rally was largely fueled by short liquidations between $2,400–$2,600, but that momentum has slowed down. Unless new buyers step in, it’s likely ETH will stall.
To restart its climb, Ethereum needs a clean breakout above $2,900 with strong trading volume. That could open the door to $3,000 and maybe even $4,000, if the broader market stays strong.