Ethereum Price Prediction: Is $2K Next After ETH’s Latest $2.5K Rejection?

Ethereum’s latest recovery has reversed sharply, returning the price to approximately $2.4K and keeping a bearish breakdown as the main scenario. Escalating Iran–US tensions add a potential risk-off headwind, though their impact on ETH remains speculative rather than a confirmed cause of the decline. On the daily timeframe, Ethereum’s rebound toward $2.48K–$2.52K failed to generate sustained follow-through. The latest bearish candle has pushed the price back inside the $2.36K–$2.44K demand zone and beneath the ascending channel’s lower boundary. This rejection suggests that buyers have yet to regain control despite repeatedly defending nearby support. The main scenario favors a breakdown if ETH establishes a daily close beneath $2.36K, followed by a loss of the recent wick lows around $2.32K. Such a move would confirm deterioration beyond a temporary trendline breach and could extend the correction toward the $2.2K–$2.27K region. However, demand has not yet decisively failed. A sustained reclaim of $2.44K and the channel boundary would weaken the immediate bearish outlook. Buyers would then need to clear $2.48K–$2.52K to interrupt the sequence of lower highs and support a broader recovery. The 4-hour chart shows an upside breakout from the falling wedge, followed by a sharp rejection near $2.52K. Ethereum has surrendered most of that advance and returned to the demand zone, indicating that the breakout failed to establish a durable bullish shift. The price is now approaching the former descending resistance around $2.39K–$2.4K. While this could act as retest support, the speed of the reversal leaves the recovery vulnerable. Losing this area would bring the $2.35K–$2.36K demand boundary into focus, followed by the recent lows around $2.32K–$2.34K. A sustained break beneath those lows would favor bearish continuation toward $2.27K and potentially $2.2K. Conversely, holding the retest and recovering above $2.44K would keep the breakout-retest interpretation alive. A subsequent move through $2.52K would be necessary to provide stronger evidence that buyers have overcome the latest selling pressure. The one-month Binance ETH/USDT liquidation heatmap highlights a persistent estimated liquidation cluster around $2.15K–$2.2K. Its bright, extended band indicates a substantial concentration of potential liquidation exposure below the current price, making it particularly relevant to the bearish breakdown scenario. If Ethereum loses the $2.36K demand zone and the recent lows, this cluster could become a downside liquidity target. Long liquidations triggered during an extended decline may amplify selling pressure as price approaches the region, potentially accelerating a move toward $2.2K. The cluster’s proximity to the deeper tec