ETH is trapped in an ascending triangle, a pattern that typically resolves in a sharp breakout or breakdown.
The upper boundary lies near $2,550, a level that has rejected Ethereum multiple times. The lower boundary hovers at $2,400, which has held as support despite growing macro tension.
Momentum indicators like RSI and MACD remain neutral, suggesting that traders are waiting for a catalyst before committing to a clear direction.
If ETH can close convincingly above $2,550 with strong volume, analysts believe it could rally toward $2,700 or higher.
However, if $2,400 fails, Ethereum could quickly fall to $2,200 or even $2,000 in a correction phase.