Ethereum is still under pressure as whale sell walls block the path toward $2,400. The charts show $ETH needs a clean move above $2,323 before buyers can claim the first real recovery signal.
Ethereum Price Faces Whale Sell Wall as $ETH Struggles Below $2,400
Ethereum is trading below a major sell wall near $2,400, according to the chart shared by CW. The chart shows $ETH recovering from the $2,233 area, but the move still faces resistance before price can reach the upper zone.
CW said Binance whales formed the larger sell wall at $2,400. This means large sell orders may be waiting near that level, which can slow or block an upside move.
Ethereum Whale Sell Wall Setup. Source: CW on X
The chart also shows a smaller short-term sell wall near the $2,320 area. CW said Coinbase whales created that barrier, which suggests U.S.-based whale activity is limiting the current recovery attempt.
$ETH has moved back toward the $2,267 area after bouncing from the recent low. However, the structure still shows price trading below both whale resistance zones. This keeps the short-term trend under pressure.
The $2,320 area is the first level $ETH needs to clear. If price breaks above that zone, the next major test would come near $2,400, where the larger Binance whale sell wall sits.
However, failure to clear the short-term sell wall could keep $ETH inside the lower range. It would also show that large sellers still control the next move.
For now, Ethereum’s recovery depends on whether buyers can absorb the sell pressure from Coinbase and Binance whales. Until that happens, the $2,400 level remains the main resistance area on the chart.
Ethereum Price Stays Under Pressure as $ETH Needs $2,323 Break for First Recovery Signal
Ethereum remains under downside pressure, according to the chart shared by More Crypto Online. The ETHUSD 1-hour chart shows price near the lower support area after another pullback from the recent short-term range.
The chart marks $2,323 as the first important level for $ETH. More Crypto Online said Ethereum needs a break above $2,323 to show the first signal that a low may have formed.
Ethereum Short Term Wave Support Setup․ Source: More Crypto Online on X
$ETH recently failed to hold its rebound near the green resistance area. After that rejection, price moved back toward the red support zone around the $2,220 to $2,230 area. This keeps sellers in control for now.
The wave count on the chart suggests $ETH may still be completing a corrective structure. The latest move lower is marked near wave C of a larger pullback, while the red support line remains the area buyers need to defend.
If Ethereum breaks above $2,323, it could reduce short-term pressure and open the way toward the next resistance near $2,380. That level marks the previous wave B high on the chart.
However, if $ETH stays below $2,323, the downside setup remains active. A clean break below the red support zone would weaken the structure and could push price toward lower trend support.
For now, Ethereum needs confirmation before the chart shows a stronger recovery signal. The $2,323 level remains the first test, while the lower red support zone decides whether the current pullback holds.
