Some cryptocurrency analysts have confirmed that Ethereum (ETH) is facing a pivotal moment as it once again tests a major resistance barrier that could make or break the altcoin king’s recovery dreams.

$2,400 Ethereum Retest: Breakout or Scam?

Ethereum jumped 3.6% on Wednesday to retest a key resistance area for the third time this month as the cryptocurrency tries to recover from recent market volatility sparked by the US-Iran conflict.

Since the market crash in early February, the cryptocurrency has been hovering between $1,800 and $2,450, repeatedly trying to break out of that range but ultimately failing.

Amid the recent market recovery, the ETH price is up 15% from April lows and remains in the upper half of the local range for the first time in three months. It is now trying to reclaim the key resistance zone at $2,400-$2,500 before potentially climbing higher.

Many cryptocurrency market observers have noticed that Ethereum has been trending toward a breakout over the past week, hitting a three-month high of $2,464 last Friday and testing $2,425 today.

Crypto Rand Analyst he emphasized the importance of reclaiming this region for the ETH price, confirming that consolidation above this area “will result in a major bullish reversal” for the cryptocurrency.

Similarly, Daan Crypto Trades pointed out that after today’s results, the Altcoins king is close to its bullish band and weekly moving average (MA) of $2,450.

This level was lost as support in mid-January, and a weekly close above it could open the door to a retest of the 200 weekly exponential moving average (EMA), located near the $2,560 level.

On the contrary, analyst Ted Pillows common a bearish outlook, confirming that while the price is rising, spot demand for Ethereum “remains stagnant,” signaling that the recent rally is not supported by continued spot accumulation.

“Ethereum may gain liquidity above the $2,400-$2,450 level similar to January 2026.” he explained as the price retested the $3,400 area before the crash.

Traders are paying attention to $2,900 and above

Despite concerns about another correction, analyst Ali Martinez recently noted that ETH’s SuperTrend, used to identify the current market trend, has achieved a bullish rally for the first time in over a year.

According to the post, SuperTrend showed a buy signal for the first time since the first half of 2025, suggesting an end to the current downtrend. Analyst too confirmed that if the cryptocurrency clears the $2,385 level, it could open the way to the $2,900 area.

This level marks the X-axis of ETH’s three-month ascending triangle, and turning it into support would neutralize recent sell signals and confirm the continuation of the main trend.

“After clearing overhead supplies, the technical target for this pattern is now $2,900. As long as we stay above the breakout zone, momentum will remain for the bulls,” he wrote.

Meanwhile, Trader Tardigrade common macro outlook on Ethereum based on a two-year ascending channel. According to the post, the cryptocurrency retested and reaffirmed the lower boundary of the channel as support on the weekly time horizon during the recent market correction, returning to the channel over the last four weeks.

“If this level continues, based on the channel structure, the mid-2026 target will be $6,000,” he suggested, concluding that “bullish momentum is building.”

Featured image from Unsplash.com, chart from TradingView.com