Ethereum (ETH) Pauses Its Rally, Finding Resistance Around the $2,740 Mark

After several days of intense buying pressure and strong bullish momentum, Ethereum has finally paused its rally, finding resistance around the $2,740 mark.

Several days of intense buying pressure have pushed Ethereum to stall its rally, finding resistance around the $2,740 mark. The move comes after ETH effortlessly cleared key resistance levels at $2,000 and $2,200, marking one of its strongest short-term performances in recent months.

As excitement builds across the broader crypto market, Ethereum’s next move could decide the strength and sustainability of this breakout.

$1.2B In Ethereum Withdrawn From CEXs – Strong Accumulation Signal

With price now stalling, analysts believe a period of consolidation is likely—and perhaps even necessary—before the next leg higher. Top analyst Daan shared a technical view suggesting that the $2,400 level will be crucial in the coming days. He believes it makes sense for price to retest that local support, which would provide a healthier structure for further upside.

However, Daan also notes a cautionary signal: extremely high levels of Open Interest across the ETH derivatives market. He’s currently avoiding long positions until some of that leverage is flushed out, reducing the risk of a sharper pullback. For now, Ethereum bulls must hold above $2,400 to confirm strength and keep the uptrend intact, while traders await cleaner conditions for potential reentry.

Crucial Retest Awaits As Ethereum’s Surge Faces Short-Term Limits

After several days of relentless gains that saw Ethereum rally over 50% from its lows, the cryptocurrency has encountered resistance around the $2,740 level. This follows an impressive run that saw ETH quickly overcome key resistance at $2,000, $2,200, and 200-week moving average, showcasing strong bullish momentum.

However, with such a sharp move, a period of consolidation or correction wouldn’t be unusual—and could even be healthy. According to Daan, the $2,400 level will be a key support zone to watch. He believes it makes sense for price to test this area before further continuation. Daan currently has no interest in entering long positions until some of the billions in Open Interest are flushed from the system. How Ethereum reacts around $2,4K will likely set the tone for the next phase.

If ETH sweeps $2,4K and quickly bounces, Daan expects a local range to form between $2.4K and $2.7K. However, if price loses that level decisively, the next major support lies at $2.1K. A slow bleed into that zone could signal weakness, while a quick flush might present a short-lived buying opportunity.

Despite short-term risks, Daan notes that even a pullback to $2,1K would still leave ETH up roughly 20% from the prior week. In his view, the larger trading range for now is between $2.1K and $2.8K—a zone that could define Ethereum’s next major trend if bulls can hold key levels and regain momentum. For now, the rally is alive, but the next test will be critical.