Ethereum (ETH) is trading at a critical decision point as it enters the weekend, with technical analysts identifying a key resistance zone between $2,290 and $2,365 that could determine the next major move.
According to MCO Global DE, the 1-hour ETH/USD chart shows the asset has recovered from this week's low, but the bounce remains a three-part structure that has not yet confirmed a stronger impulsive breakout. The red resistance box sits around key Fibonacci levels, including the 38.2% level near $2,290, the 50% level near $2,312, the 61.8% level near $2,334, and the 78.6% level near $2,365. MCO Global DE stated that ETH will likely stay inside or below this resistance area during the weekend.
If ETH breaks above $2,365, the chart points toward the descending yellow trendline as the next major test, which has capped the wider structure and still acts as overhead resistance. On the downside, the chart marks support levels near $2,240, $2,178, $2,119, and $2,037.
Castillo Trading added another layer of analysis, with the 2-hour ETH/USD chart showing ETH testing the Median ML area around the middle of the range. Castillo Trading emphasized that ETH needs to turn this level into real support to open a move toward premium prices and the upper limit near $2,600. A stronger move could then target the red nPOC level near $2,735.
If buyers defend this median zone, ETH could bounce toward the upper part of the range. However, if the median level is lost, the chart suggests a move back toward the lower range, with downside targets including the red nPOC areas near $2,082, $2,057, $1,903, and $1,826, with the lower limit near the $1,800 zone.
