Ethereum rebounded toward $2,370 after finding demand between $2,220 and $2,310, but remains below the broken ascending channel and the sequence of lower highs. Holding above $2,310 could open the way to $2,400-$2,440, while the $2,470-$2,520 supply zone represents a major obstacle. On the four-hour chart, clearing $2,390-$2,420 would bring the descending channel resistance around $2,460-$2,480 into focus. A drop below $2,270 would expose Ethereum to a return toward $2,220, with estimated long liquidation concentrations concentrated between $2,270 and $2,290.
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