Ethereum has been moving sideways in recent weeks, leaving traders questioning why momentum keeps stalling despite multiple upward pushes. According to an analysis shared by an analyst on X, the answer lies in a specific technical level that the asset has repeatedly failed to reclaim. Ethereum’s $2,450 Barrier The recent price behavior of Ethereum can be traced to the market’s interaction with a resistance area near $2,450. In early May, the analyst outlined that this level functioned as a decisive confirmation point for bullish continuation. The structure suggested that if Ethereum could move above $2,450, even briefly, it would signal that the breakout from the current range was genuine. Related Reading: XRP Wave Count Remains Valid: Here Are The Levels To Watch Out For In the chart shared at the time, the region around this price was highlighted as a critical reclaim zone. The analysis argued that once the price clears such a level, it becomes a strong directional signal for traders. Because the level lacked complicated confirmation requirements, even a quick move above it would have been enough to validate bullish momentum. However, until that threshold was crossed, the analyst maintained a cautious stance. The reasoning was straightforward: markets often approach major breakout levels only to reverse if buying pressure cannot sustain the move. The repeated hesitation around $2,450 suggested that the upward move could still fail if the market could not overcome that barrier. This framework also tied Ethereum’s behavior closely to that of Bitcoin. The analyst mapped the $2,450 level on Ethereum as roughly equivalent to a key resistance zone around $81,000 on Bitcoin. If Ethereum confirmed a breakout above that point, it would likely strengthen confidence across the broader crypto market. Rejection Signals Downside Risk Days later, price action delivered the scenario the analyst had warned about. Ethereum approached the resistance zone but failed to convincingly move above it. Although the market tested the area, it never produced the decisive wick above $2,450 that was required to confirm a reclaim. Once the rejection occurred, the bearish scenario outlined in the earlier analysis began to unfold. Ethereum started to move lower, reinforcing the idea that the resistance had not been broken. The follow-up chart showed price drifting away, with the projected path pointing toward further downside if the market continued to lose momentum. Related Reading: Is It Time To Sell? Bitcoin Price Enters Redistribution Phase That Previously Led To A 78% Crash The outcome was also linked to Bitcoin’s movement. Because Ethereum failed to confirm strength at the crucial level, it suggested weakness across the broader market structure. That correlation was used to frame a short trade idea on Bitcoin around $82,300, based on the expectation that both assets would move lower together. Technically, Ethereum remains in a distribution phase below resistance and is struggling to generate enough volume for a breakout. Until it decisively reclaims the $2,450 level, the analyst’s framework suggests the market could remain vulnerable to further pullbacks. In practical terms, the $2,450 level has become the dividing line between a renewed breakout and continued downside risk. Featured image from Dall.E, chart from TradingView.com
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The text of Myanmar’s Anti-Online Fraud Bill said that anyone who was convicted of committing “digital currency fraud” could face from ten years to life in prison, and possibly the death penalty.
Kraken is moving its wrapped Bitcoin (kBTC) to Chainlink CCIP as bridge-security fears continue spreading across DeFi, turning the bridge-security debate into a decision about wrapped-Bitcoin infrastructure. In a recent announcement, the exchange said it is deprecating its existing cross-chain provider and moving all Kraken Wrapped Bitcoin to Chainlink's Cross-Chain Interoperability Protocol. CCIP will become […]
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Lombard migrates over $1B in Bitcoin-backed assets to Chainlink CCIP after reviewing cross chain security.
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Ethereum is showing a notable shift in on-chain behavior, as the network records its strongest wave of profit realization in weeks. After a period of steady accumulation and price recovery, a growing number of holders are now locking in gains. The spike reflects a meaningful shift in on-chain behavior as more investors move into profitable territory once again. What Rising Realized Profits Reveal About Ethereum Market Sentiment In a recent X post, Santiment Intelligence revealed that Ethereum has recorded its highest level of network realized profit in the past three weeks, with approximately $74.58 million in gains locked in. This surge in profit-taking comes as ETH’s price has declined 5.5% over the last three days, creating a seemingly counterintuitive market dynamic. Related Reading: Ethereum Sees Sharp Decline In High-Leverage Long Positions — See What Happens Next Currently, holders with a much lower cost are selling into the dip. A significant number of investors accumulated ETH when it traded below $2,000 during February and March, a period when savvy traders also accumulated, despite war fears and macro uncertainty across the crypto market. Traders who bought aggressively during those weaker conditions are still holding strong unrealized gains even after the current mid-May correction. As a result, some of those wallets are now choosing to secure profits while market conditions remain relatively favorable. At the same time, the data showed a significant increase in on-chain movement, and the 4-hour candles reveal a notable price action compression around the $2,241 level, suggesting a high on-chain activity distribution. Higher transaction volume results in more realized profit-and-loss events, meaning even relatively modest profits from individual wallets can collectively generate large realized profit totals at the network level when volume intensifies. Santiment noted that, based on current ETH trader behavior, caution should be exercised, but this doesn’t mean the market will be bearish. Watch out for deeper realized losses as a potential bottoming signal, and don’t position too aggressively until stronger signs emerge that the current distribution phase is nearing completion. Fidelity Brings Institutional Liquidity Fund To Ethereum The Etherealize has reported on X that Fidelity International has officially launched FILQ, a tokenized money market fund issued as an ERC-20 token on Ethereum, marking another major step in the institutional shift toward on-chain finance. Related Reading: Ethereum Lands JPMorgan’s New Tokenized Money Market Fund FILQ represents an on-chain version of Fidelity’s $7 billion institutional liquidity fund, maintaining the same core strategy and a Moody’s AAA-mf rating, with a key upgrade to 24/7 subscription and redemption. Meanwhile, some of the world’s largest asset managers are increasingly tokenizing cash and choosing ETH as the settlement layer. This shift aligns with comments from Larry Fink, CEO of BlackRock, who recently emphasized the pace of this transformation, stating that the market is underestimating how quickly all financial assets could become tokenized. Featured image from Getty Images, chart from Tradingview.com
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Investors are piling into leveraged ETFs at a record pace, turning the Bitcoin risk-on boom into a test of whether speculative demand can survive hotter inflation and fading expectations of Fed rate cuts. Bitcoin trades near $81,000 as of May 15, close enough to the $86,900 resistance ceiling to make a breakout plausible and to […]
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The latest conflict involving Iran has produced an unexpected proving ground for financial infrastructure, and an unlikely winner has emerged, argues Huang.
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