Ethereum tests key resistance near $2,375, eyeing potential breakout to $2,646 or pullback to support zones.

Ethereum is currently testing a major resistance level near $2,375 after reaching the top of its short-term descending channel. A successful breakout above this level could lead to a bullish move toward $2,550 and potentially $2,646, marking a 7% gain from the breakout point. However, failure to break this resistance may result in a retracement to lower support levels around $2,325, $2,290, and as low as $2,210. The next key indicator will be whether Ethereum can close above the resistance zone, which would confirm a positive short-term trend, or face rejection and pull back to support zones before attempting another rise.