Ethereum (ETH) Price Prediction: ETH Battles $2,300 Resistance as Bulls Defend Key Trendline Support

Ethereum price, as per Brave New Coin data, is currently trading around the $2,300 region, placing the price directly at a critical decision zone where multiple structures are colliding.

On one side, bulls are defending higher lows and trendline support. On the other hand, ETH is testing heavy resistance from both horizontal levels and a broader descending channel. This creates a clear battle zone where the next move will define short-term direction.

Ethereum Holding Ascending Trendline Support Near $2,100–$2,200

Ethereum continues to respect a long-term ascending trendline, with multiple bounces confirming this zone as a strong support base.

As shown in the CryptoJack chart, ETH has consistently reacted from this trendline, forming higher lows around the $2,100–$2,200 region. Each retest has brought buyers back into the market, preventing deeper breakdowns.

ETH is holding a long-term ascending trendline, with repeated reactions near $2,100–$2,200 confirming strong buyer interest. Source: CryptoJack via X

As long as this structure holds, the broader short-term bias remains supported. A breakdown below this trendline, however, would shift momentum back towards the bears and open downside towards $2,000.

Short-Term Wedge Structure Signals Breakout Above $2,350

On the lower timeframe, Ethereum is forming a tightening wedge pattern, indicating compression before expansion.

Trader Symba’s chart highlights consistent wick rejections and narrowing price action between approximately $2,250 support and $2,350 resistance. This range compression suggests liquidity is building.

ETH is compressing within a wedge between $2,250 support and $2,350 resistance, with breakout pressure building. Source: Trader Symba via X

A confirmed breakout above $2,350 would likely trigger momentum towards $2,400 and higher. Meanwhile, if rejected, price could rotate back towards the $2,200 support zone.

Ethereum Holding Range Around $2,260–$2,320 After Sharp Drop

Recent ETH price shows Ethereum holding after a sharp intraday drop, with price now ranging between roughly $2,260 support and $2,320 resistance.

The Brave New Coin chart highlights a quick sell-off followed by sideways consolidation, suggesting that volatility has cooled but direction remains undecided.

ETH is ranging between $2,260 support and $2,320 resistance after a sharp drop, showing early signs of stabilization. Source: Ethereum price via Brave New Coin

This kind of structure usually reflects a pause phase, where the market absorbs selling pressure before the next move. A break above $2,320 could shift short-term momentum back upward, while losing $2,260 would expose downside towards the $2,200 region.

Unstaking Activity Adds Supply Risk Near Resistance

On the fundamental side, Ethereum is facing a potential supply overhang as the Ethereum Foundation begins unlocking a large amount of ETH.

Data shared by Arkham shows that approximately $48.9 million worth of ETH has been deposited as wstETH into the Lido unstaking contract, meaning these tokens will soon be unlocked and returned as liquid ETH.

Ethereum Foundation is unstaking $48.9M ETH via Lido, introducing potential sell-side supply into the market. Source: Arkham via X

While this does not confirm immediate selling, it introduces a clear overhang, especially with price trading near resistance. If any portion of this unlocked ETH hits the market, it could slow upside momentum and increase volatility in the short term.

Final Thoughts: What Next For Ethereum Price?

Ethereum is currently trading within a well-defined compression zone, with price holding above the $2,100–$2,200 support while repeatedly facing rejection in the $2,300–$2,400 resistance range. This structure reflects a tightening market, where higher lows are forming into overhead supply.

From a technical standpoint, a confirmed breakout above $2,350–$2,400 would shift short-term momentum in favor of the bulls and open the path towards $2,500–$2,700, aligning with higher timeframe resistance. However, failure to break this region, especially with rejection from the descending channel, could result in a pullback towards $2,200, with a deeper move towards $2,000 if support fails.